Research by topics

General Equilibrium: Growth, Asset Prices, Bubbles, Efficiency

  1. Intertemporal equilibrium with heterogeneous agents, endogenous dividends and collateral constraints.  (with Stefano Bosi and Cuong Le Van), Journal of Mathematical Economics (forthcoming). Working paper version (PDF)
    • We provide a characterization to check whether a sequence is an equilibrium or not; transversality conditions are proved. We introduce a theory of valuation of an asset which can be used as input by many producers.
  2. Financial bubbles and capital accumulation in altruistic economies (with S. Bosi, C. Le Van, T. Ha-Huy, C-T. Pham), Journal of Mathematical Economics (forthcoming). Working paper version (PDF)
    • We study the global dynamics of capital stocks and asset values as well as the interplay between them in an OLG model.
  3. Asset bubbles and efficiency in a generalized two-sector model” (with Stefano Bosi and Cuong Le Van), Mathematical Social Sciences, vol. 88, p. 37–48 (2017). Working paper version (PDF)
    • We explain how bubbles of an asset depend on its structure; the linkage between bubbles and efficiency is investigated.
  4. Intertemporal equilibrium with financial asset and physical capital” (with Cuong Le Van), Economic Theory, vol. 62, p. 155-199 (2016). Working paper version (PDF)
    • We investigate the interaction between financial market and production sector.
  5. Rational land and housing bubbles in infinite-horizon economies” (with Stefano Bosi and Cuong Le Van), in: K. Nishimura, A. Venditti and N. Yannelis (eds), “Sunspots and Non-Linear Dynamics – Essays in honor of Jean-Michel Grandmont“,  Series “Studies in Economic Theory“, Springer-Verlag (2017). Working paper version (PDF)

Economic Growth

  1. Should the host country invest in a new industry?” (with  Thanh Tam Nguyen-Huu), Revue Economique, vol. 69, p. 29-65 (2018). Working paper version (PDF) and final version (PDF)
    • We show the roles of FDI spillovers, development level, and heterogeneity of firms.
  2. Taxation, bubbles and endogenous growth” (with Stefano Bosi), Economics Letters, vol. 143, p. 73-76, (2016). Working paper version (PDF).
    • We figure out the cases where bubbles may harm or promote economic growth.

DSGE model

  1. The Effects of Oil Price Shocks in a New-Keynesian Framework with Capital Accumulation” (with V. Acurio-Vasconez., G. Giraud and F. Mc Isaac)Energy Policy, vol. 86, p. 844–854, (2015).
    • Working paper version (PDF) and Appendix (PDF)


  1. Nonsmooth optimization over the (weakly or properly) Pareto set of a linear-quadratic multi-objectivecontrol problem: Explicit optimality conditions” (with Henri Bonnel), Journal of Industrial and Management Optimization, vol. 7, No. 4, p. 789-809, (2011).