Continuous-Time Overlapping Generations Models
نویسندگان
چکیده
منابع مشابه
Equilibrium for Overlapping Generations in Continuous Time
We prove the existence of general equilibrium for continuous-time overlappinggenerations models. Previous theorems exclude all non-linear C.E.S. and von Neumann Morgenstern preferences and exclude production. Our primitive assumptions are satisfied by such preferences and by all Markovian production technologies satisfying Bewley's assumptions for Arrow Debreu models provided that storage is po...
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The OLG model of Allais and Samuelson retains the methodological assumptions of agent optimization and market clearing from the Arrow-Debreu model, yet its equilibrium set has different properties: Pareto inefficiency, indeterminacy, positive valuation of money, and a golden rule equilibrium in which the rate of interest is equal to population growth (independent of impatience). These propertie...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2009
ISSN: 1556-5068
DOI: 10.2139/ssrn.1708077