Indeterminacy in stochastic overlapping generations models: real effects in the long run
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DOI: 10.1007/s00199-015-0947-y
Abstract: Indeterminate equilibria are known to exist for overlapping generations models, though recent research has been limited to deterministic settings in which all equilibria converge to a steady state in the long run. This paper analyzes… read more here.
Keywords: generations models; real effects; effects long; overlapping generations ... See more keywords
A characterization of Markov equilibrium in stochastic overlapping generations models
Sign Up to like & getrecommendations! Published in 2020 at "Journal of Economic Dynamics and Control"
DOI: 10.1016/j.jedc.2020.104023
Abstract: Abstract This paper characterizes the Markov equilibrium in stochastic overlapping generations models with both pure exchange and production using the theory of linear iterated function systems. We provide conditions for the linearized Markov equilibrium to… read more here.
Keywords: generations models; equilibrium; equilibrium stochastic; overlapping generations ... See more keywords