On the dynamics of stock price bubbles: Comments on a model by Miao and Wang
- Author(s)
- Gerhard Sorger
- Abstract
We consider the model by Miao and Wang, in which the existence of endogenous collateral constraints allows for the existence of stock price bubbles. Whereas Miao and Wang characterize the local dynamics around stationary equilibria only under the assumption of risk neutral households, we extend this characterization to the case of risk aversion.
- Organisation(s)
- Department of Economics
- No. of pages
- 18
- Publication date
- 07-2018
- Austrian Fields of Science 2012
- 502018 Macroeconomics, 502009 Corporate finance
- Portal url
- https://ucrisportal.univie.ac.at/en/publications/56f502b9-9767-4f01-abd6-5fe003a699eb