Asset Bubbles and Overlapping Generations资料.pdfVIP

Asset Bubbles and Overlapping Generations Jean Tirole Econometrica, Vol. 53, No. 6. (Nov., 1985), pp. 1499-1528. Stable URL: /sici?sici=0012-96822953%3A6%3C1499%3AABAOG%3E2.0.CO%3B2-N Econometrica is currently published by The Econometric Society. Your use of the JSTOR archive indicates your acceptance of JSTORs Terms and Conditions of Use, available at /about/terms.html. JSTORs Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at /journals/econosoc.html. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. The JSTOR Archive is a trusted digital repository providing for long-term preservation and access to leading academic journals and scholarly literature from around the world. The Archive is supported by libraries, scholarly societies, publishers, and foundations. It is an initiative of JSTOR, a not-for-profit organization with a mission to help the scholarly community take advantage of advances in technology. For more information regarding JSTOR, please contact support@. Tue Oct 30 13:07:44 2007 Economerrica, Vol. 53, No. 6 (November, 1985) ASSET BUBBLES AND OVERLAPPING GENERATIONS The first part of this paper considers the interaction between productive and nonproduc- tive savings in a growing econom