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No-trade and uniqueness of steady states

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

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Abstract

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
Uncontrolled Keywords: OVERLAPPING-GENERATIONS MODELS; STEADY STATES; NON-TRADE EQUILIBRIA; OPTIMALITY; UNIQUENESS OF EQUILIBRIA
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences
Faculty of Social Sciences > Economics, Department of
SWORD Depositor: Elements
Depositing User: Elements
Date Deposited: 16 Jul 2012 17:38
Last Modified: 15 Jan 2022 00:40
URI: http://repository.essex.ac.uk/id/eprint/3036

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