Asset bubbles, credit market imperfections, and technology choice

被引：7
|
作者：
Matsuoka, Tarishi [1 ,2 ]
Shibata, Akihisa [3 ]
机构：
[1] Kyoto Univ, Japan Soc Promot Sci, Sakyo Ku, Kyoto 6068501, Japan
[2] Kyoto Univ, Grad Sch Econ, Sakyo Ku, Kyoto 6068501, Japan
[3] Kyoto Univ, Inst Econ Res, Sakyo Ku, Kyoto 6068501, Japan
来源：
ECONOMICS LETTERS | 2012年 / 116卷 / 01期
关键词：
Asset bubbles; Credit market imperfections; Technology adoption; TRAPS;
D O I：
10.1016/j.econlet.2012.01.009
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
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. (C) 2012 Elsevier B.V. All rights reserved.
引用
收藏
页码：52 / 55
页数：4
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