Authors
Graziella Bertocchi
Publication date
1991/2/1
Journal
Economics Letters
Volume
35
Issue
2
Pages
117-122
Publisher
North-Holland
Description
We study speculative behavior in a stochastic overlapping-generations model and we show how the link between the existence of bubbles and dynamic inefficiency, which has been established for the deterministic case, is broken when risk-related factors, such as risk premia and capital gains, are explicitly taken into account.
Total citations
Scholar articles
G Bertocchi - Economics Letters, 1991