tirole-bubbles-econometrica-1985

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Asset Bubbles and Overlapping Generations Jean Tirole Econometrica, Vol. 53, No. 6. (Nov., 1985), pp. 1499-1528. Stable URL: http://links.jstor.org/sici?sici=0012-9682%28198511%2953%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 JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/about/terms.html. JSTOR's 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 http://www.jstor.org/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. JSTOR is an independent not-for-profit organization dedicated to and preserving a digital archive of scholarly journals. For more information regarding JSTOR, please contact [email protected]. http://www.jstor.org Tue Mar 20 08:19:41 2007

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Page 1: Tirole-bubbles-Econometrica-1985

Asset Bubbles and Overlapping Generations

Jean Tirole

Econometrica, Vol. 53, No. 6. (Nov., 1985), pp. 1499-1528.

Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28198511%2953%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 JSTOR's Terms and Conditions of Use, available athttp://www.jstor.org/about/terms.html. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtainedprior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content inthe 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 athttp://www.jstor.org/journals/econosoc.html.

Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printedpage of such transmission.

JSTOR is an independent not-for-profit organization dedicated to and preserving a digital archive of scholarly journals. Formore information regarding JSTOR, please contact [email protected].

http://www.jstor.orgTue Mar 20 08:19:41 2007

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You have printed the following article:

Asset Bubbles and Overlapping GenerationsJean TiroleEconometrica, Vol. 53, No. 6. (Nov., 1985), pp. 1499-1528.Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28198511%2953%3A6%3C1499%3AABAOG%3E2.0.CO%3B2-N

This article references the following linked citations. If you are trying to access articles from anoff-campus location, you may be required to first logon via your library web site to access JSTOR. Pleasevisit your library's website or contact a librarian to learn about options for remote access to JSTOR.

[Footnotes]

2 On Endogenous Competitive Business CyclesJean-Michel GrandmontEconometrica, Vol. 53, No. 5. (Sep., 1985), pp. 995-1045.Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28198509%2953%3A5%3C995%3AOECBC%3E2.0.CO%3B2-D

4 Comparative Statics and Perfect Foresight in Infinite Horizon EconomiesTimothy J. Kehoe; David K. LevineEconometrica, Vol. 53, No. 2. (Mar., 1985), pp. 433-453.Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28198503%2953%3A2%3C433%3ACSAPFI%3E2.0.CO%3B2-O

15 On the Possibility of Speculation under Rational ExpectationsJean TiroleEconometrica, Vol. 50, No. 5. (Sep., 1982), pp. 1163-1181.Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28198209%2950%3A5%3C1163%3AOTPOSU%3E2.0.CO%3B2-7

22 Do Sunspots Matter?David Cass; Karl ShellThe Journal of Political Economy, Vol. 91, No. 2. (Apr., 1983), pp. 193-227.Stable URL:

http://links.jstor.org/sici?sici=0022-3808%28198304%2991%3A2%3C193%3ADSM%3E2.0.CO%3B2-A

http://www.jstor.org

LINKED CITATIONS- Page 1 of 3 -

NOTE: The reference numbering from the original has been maintained in this citation list.

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References

13 Do Sunspots Matter?David Cass; Karl ShellThe Journal of Political Economy, Vol. 91, No. 2. (Apr., 1983), pp. 193-227.Stable URL:

http://links.jstor.org/sici?sici=0022-3808%28198304%2991%3A2%3C193%3ADSM%3E2.0.CO%3B2-A

15 National Debt in a Neoclassical Growth ModelPeter A. DiamondThe American Economic Review, Vol. 55, No. 5, Part 1. (Dec., 1965), pp. 1126-1150.Stable URL:

http://links.jstor.org/sici?sici=0002-8282%28196512%2955%3A5%3C1126%3ANDIANG%3E2.0.CO%3B2-L

16 Market Fundamentals versus Price-Level Bubbles: The First TestsRobert P. Flood; Peter M. GarberThe Journal of Political Economy, Vol. 88, No. 4. (Aug., 1980), pp. 745-770.Stable URL:

http://links.jstor.org/sici?sici=0022-3808%28198008%2988%3A4%3C745%3AMFVPBT%3E2.0.CO%3B2-C

19 On Endogenous Competitive Business CyclesJean-Michel GrandmontEconometrica, Vol. 53, No. 5. (Sep., 1985), pp. 995-1045.Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28198509%2953%3A5%3C995%3AOECBC%3E2.0.CO%3B2-D

20 The Determinants of the Variability of Stock Market PricesSanford J. Grossman; Robert J. ShillerThe American Economic Review, Vol. 71, No. 2, Papers and Proceedings of the Ninety-ThirdAnnual Meeting of the American Economic Association. (May, 1981), pp. 222-227.Stable URL:

http://links.jstor.org/sici?sici=0002-8282%28198105%2971%3A2%3C222%3ATDOTVO%3E2.0.CO%3B2-8

http://www.jstor.org

LINKED CITATIONS- Page 2 of 3 -

NOTE: The reference numbering from the original has been maintained in this citation list.

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22 Comparative Statics and Perfect Foresight in Infinite Horizon EconomiesTimothy J. Kehoe; David K. LevineEconometrica, Vol. 53, No. 2. (Mar., 1985), pp. 433-453.Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28198503%2953%3A2%3C433%3ACSAPFI%3E2.0.CO%3B2-O

25 The Present-Value Relation: Tests Based on Implied Variance BoundsStephen F. LeRoy; Richard D. PorterEconometrica, Vol. 49, No. 3. (May, 1981), pp. 555-574.Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28198105%2949%3A3%3C555%3ATPRTBO%3E2.0.CO%3B2-3

30 An Exact Consumption-Loan Model of Interest with or without the Social Contrivance ofMoneyPaul A. SamuelsonThe Journal of Political Economy, Vol. 66, No. 6. (Dec., 1958), pp. 467-482.Stable URL:

http://links.jstor.org/sici?sici=0022-3808%28195812%2966%3A6%3C467%3AAECMOI%3E2.0.CO%3B2-Z

32 Do Stock Prices Move Too Much to be Justified by Subsequent Changes in Dividends?Robert J. ShillerThe American Economic Review, Vol. 71, No. 3. (Jun., 1981), pp. 421-436.Stable URL:

http://links.jstor.org/sici?sici=0002-8282%28198106%2971%3A3%3C421%3ADSPMTM%3E2.0.CO%3B2-2

34 The Price of Money in a Pure Exchange Monetary Economy with TaxationRoss M. StarrEconometrica, Vol. 42, No. 1. (Jan., 1974), pp. 45-54.Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28197401%2942%3A1%3C45%3ATPOMIA%3E2.0.CO%3B2-4

35 On the Possibility of Speculation under Rational ExpectationsJean TiroleEconometrica, Vol. 50, No. 5. (Sep., 1982), pp. 1163-1181.Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28198209%2950%3A5%3C1163%3AOTPOSU%3E2.0.CO%3B2-7

http://www.jstor.org

LINKED CITATIONS- Page 3 of 3 -

NOTE: The reference numbering from the original has been maintained in this citation list.