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On dynamics and the core of OG models

Ghiglino, C and Tvede, M (1995) 'On dynamics and the core of OG models.' Economics Letters, 48 (3-4). 313 - 317. ISSN 0165-1765

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Stationary overlapping-generations models can exhibit fluctuations. However, the fluctuations, which have been studied by Benhabib and Day (Journal of Economic Dynamics and Control, 1982, 4, 37-55), Gale (Journal of Economic Theory, 1973, 6, 12-36) Grandmont (Econometrica, 1985, 53, 995-1046) and others, are not in the core even though they are Pareto-optimal. In the present paper, it is shown that general stationary overlapping-generation economies can have periodic equilibria in the core. © 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 17:37
Last Modified: 23 Jan 2019 00:15

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