Ghiglino, Christian and Tvede, Mich (1995) No-trade and uniqueness of steady states. Journal of Economic Dynamics and Control, 19 (3). pp. 655-661. DOI https://doi.org/10.1016/0165-1889(94)00797-l
Ghiglino, Christian and Tvede, Mich (1995) No-trade and uniqueness of steady states. Journal of Economic Dynamics and Control, 19 (3). pp. 655-661. DOI https://doi.org/10.1016/0165-1889(94)00797-l
Ghiglino, Christian and Tvede, Mich (1995) No-trade and uniqueness of steady states. Journal of Economic Dynamics and Control, 19 (3). pp. 655-661. DOI https://doi.org/10.1016/0165-1889(94)00797-l
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: | Unnamed user with email elements@essex.ac.uk |
| Depositing User: | Unnamed user with email elements@essex.ac.uk |
| Date Deposited: | 16 Jul 2012 17:38 |
| Last Modified: | 04 Dec 2024 07:14 |
| URI: | http://repository.essex.ac.uk/id/eprint/3036 |