研讨论文
Asset Bubbles and Credit Constraints
论文作者及相关信息：Jianjun Miao and Pengfei Wang (2018)，The American Economic Review
主讲人：王建华（2022届博士，北京银行）
点评老师：王忏、明洋
上周回顾：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.
本周预告：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.
时间：4月1日18:30~21:30
线下地址：中关村资本大厦511会议室（限25人）
腾讯会议：199-553-221
温馨提示：线下会场人满后限制入场，线下参会师生请佩戴好口罩。
