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No-trade and uniqueness of steady states

Ghiglino, C and Tvede, M (1995) 'No-trade and uniqueness of steady states.' Journal of Economic Dynamics and Control, 19 (3). 655 - 661. ISSN 0165-1889

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In the present paper a stationary overlapping-generations model with many commodities and many different consumers is considered. The main result is that economies with endowments near no-trade equilibria with constant prices have a unique balanced steady state and a unique golden-rule steady state. These results are obtained generically in utility functions and do not depend on whether the utility functions are of the discounted form or not. © 1995.

Item Type: Article
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 16 Jul 2012 17:38
Last Modified: 23 Jan 2019 00:15

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