Bubbles in prices of exhaustible resources
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Bubbles in prices of exhaustible resources by Boyan Jovanovic

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Published by National Bureau of Economic Research in Cambridge, Mass .
Written in English

Subjects:

  • Consumer goods -- Prices -- Mathematical models,
  • Consumption (Economics),
  • Equilibrium (Economics)

Book details:

About the Edition

Aside from the equilibrium that Hotelling (1931) displayed, his model of non-renewable resources also contains a continuum of bubble equilibria. In all the equilibria the price of the resource rises at the rate of interest. In a bubble equilibrium, however, the consumption of the resource peters out, and a positive fraction of the original stock continues to trade forever. And that may well be happening in the market for high-end Bordeaux wines.

Edition Notes

StatementBoyan Jovanovic.
SeriesNBER working paper series -- no. 13320., Working paper series (National Bureau of Economic Research) -- working paper no. 13320.
ContributionsNational Bureau of Economic Research.
The Physical Object
Pagination30 p. :
Number of Pages30
ID Numbers
Open LibraryOL17635133M
OCLC/WorldCa168680259

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Bubbles in Prices of Exhaustible Resources Boyan Jovanovic. NBER Working Paper No. Issued in August NBER Program(s):Productivity, Innovation, and Entrepreneurship, Environment and Energy Economics Aside from the equilibrium that Hotelling () displayed, his model of non-renewable resources also contains a continuum of bubble equilibria. Bubbles in Prices of Exhaustible Resources Boyan Jovanovic NBER Working Paper No. August JEL No. E44,G12 ABSTRACT Aside from the equilibrium that Hotelling () displayed, his model of non-renewable resources also contains a continuum of bubble equilibria. In all the equilibria the price of the resource rises at the rate of interest. Bubbles in Prices of Exhaustible Resources In all the equilibria the price of the resource rises at the rate of interest. In a bubble equilibrium, however, the consumption of the resource peters out, and a positive fraction of the original stock continues to be traded forever. And that may well be happening in the market for high-end.   Bubbles in Prices of Exhaustible Resources. International Economic Review, Vol. 54, Issue 1, pp. , Number of pages: 34 Posted: 24 Jan Downloads 2. Date Written: August Abstract. Aside from the equilibrium that Hotelling () displayed, his model of non-renewable resources also contains a continuum of bubble equilibria. In.

Jovanovic () argues that bubbles in prices of exhaustable resources are possible. posting a low price with a relatively high probability of making a sale to posting a high price. Demand Author: Boyan Jovanovic. Boyan Jovanovic, "Bubbles in Prices of Exhaustible Resources," Levine's Working Paper Archive , David K. Levine. Boyan Jovanovic, "Bubbles in Prices of Exhaustible Resources," Meeting Pap Society for Economic Dynamics. Well known to book collectors and booklovers, our site is an excellent resource for discovering a rough value of an old book. AbeBooks has been part of the rare book world since going live in When searching on it's important to find copies that match the book in your possession as accurately as possible. Get this from a library! Bubbles in prices of exhaustible resources. [Boyan Jovanovic; National Bureau of Economic Research.] -- Aside from the equilibrium that Hotelling () displayed, his model of non-renewable resources also contains a continuum of bubble equilibria. In all the equilibria the price of the resource rises.

Bubbles in Prices of Exhaustible Resources. By Boyan Jovanovic. Get PDF ( KB) Abstract. Aside from the equilibrium that Hotelling () displayed, his model of non-renewable resources also contains a continuum of bubble equilibria. In all the equilibria the price of the resource rises at the rate of interest. Bubbles in Prices of Exhaustible Resources - CORE Reader. Bubbles in Prices of Exhaustible Resources. Boyan Jovanovic. NBER Working Paper No. Issued in August Acknowledgments Books Recent Books Earlier Books (by decade) Browse books by Series Chapters from Books In Process Free Cited by: Downloadable! Aside from the equilibrium that Hotelling () displayed, his model of non-renewable resources also contains a continuum of bubble equilibria. In all the equilibria the price of the resource rises at the rate of interest. In a bubble equilibrium, however, the consumption of the resource peters out, and a positive fraction of the original stock continues to trade forever.