Asset bubbles, credit market imperfections, and technology choice

C-Tier
Journal: Economics Letters
Year: 2012
Volume: 116
Issue: 1
Pages: 52-55

Score contribution per author:

0.503 = (α=2.01 / 2 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper introduces a bubbly asset into the Matsuyama (2007) model with credit market imperfections and multiple technologies and shows that there can exist multiple bubbly steady states and bubbles may cause underdevelopment traps by preventing the adoption of high productivity technology.

Technical Details

RePEc Handle
repec:eee:ecolet:v:116:y:2012:i:1:p:52-55
Journal Field
General
Author Count
2
Added to Database
2026-01-25