研讨論文
Asset Bubbles and Credit Constraints
論文作者及相關信息：Jianjun Miao and Pengfei Wang (2018)，The American Economic Review
主講人：王建華（2022屆博士，北京銀行）
點評老師：王忏、明洋
上周回顧：In our previous seminar, we delved into the fundamental model setting proposed by Miao and Wang in 2018. Our discussion revolved around several key aspects, including the enterprise's decision timing, dynamic programming problem, and the role of stock price bubbles in the model. Our analysis placed a particular emphasis on Figure 1.
本周預告：For this session, we will shift our attention to the seven core propositions put forth in the paper. We will provide a detailed examination of the three types of equilibria, namely, equilibrium without bubbles, equilibrium with bubbles, and the transition from the bubbly equilibrium to the bubbleless one. We will present rigorous proofs of the seven core propositions and provide relevant numerical simulation algorithms to replicate the dynamic numerical results of Figures 2 and 3.
時間：4月1日18:30~21:30
線下地址：中關村資本大廈511會議室（限25人）
騰訊會議：199-553-221
溫馨提示：線下會場人滿後限制入場，線下參會師生請佩戴好口罩。
