Growth and Fluctuations Economies with Land Speculation
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https://www.nber.org/papers/w33589
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This paper considers growth and fluctuations in a standard Overlapping Generations (OLG) model with rational expectations, with land (a non-produced asset), credit frictions, and endogenous growth. Under plausible conditions, there can be multiple momentary equilibria, with the multiplicity itself
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美国国家经济研究局创建时间：
2025-03-01
