A characterization of Markov equilibrium in stochastic overlapping generations models
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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