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Jean-Baptiste MICHAU (CREST) – “Rational Bubbles and Ponzi Schemes in a Neoclassical Economy”

October 2, 12:15 pm - 1:30 pm

The Macroeconomics Seminar: Every Monday at 12:15 pm.

Time: 12:15 pm – 1:30 pm
Date: 02th of October 2017
Place: Room 3001.

Jean-Baptiste MICHAU (CREST) – “Rational Bubbles and Ponzi Schemes in a Neoclassical Economy”

Abstract:

This paper considers a neoclassical economy where households derive utility from holding wealth. This can induce the capital stock to exceed the golden rule. In that case, under some conditions, rational bubbles can arise and the government can run Ponzi schemes. This analysis provides new insights on the nature of the government budget constraint.

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Organizers:
Julien PRAT (CREST )

Sponsors:
CREST

Address : ENSAE ParisTech  5, avenue Henry Le Chatelier 91120 Palaiseau, How to come?

 

Details

Date:
October 2
Time:
12:15 pm - 1:30 pm
Event Category:

Venue