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- W2372031688 abstract "The paper introduces soft budget constraint theory into the analysis of rational bubbles of asset prices and obtains an expression of rational bubble of asset prices based on an asset equilibrium-price-making model with soft budget constraint. The analysis indicates that the rational bubbles of risk assets are positive under soft budget constraint. The more a firm possessing risk assets incur soft budget constraint, the bigger the rational bubble of the risk asset price is." @default.
- W2372031688 created "2016-06-24" @default.
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- W2372031688 date "2009-01-01" @default.
- W2372031688 modified "2023-09-28" @default.
- W2372031688 title "Soft Budget Constraint and Rational Bubble of Asset Prices" @default.
- W2372031688 hasPublicationYear "2009" @default.
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