Ghiglino, Christian and Tvede, Mich No-trade and uniqueness of steady-states. [["eprint_typename_scholarly-edition" not defined]]
Ghiglino, Christian and Tvede, Mich No-trade and uniqueness of steady-states. [["eprint_typename_scholarly-edition" not defined]]
Ghiglino, Christian and Tvede, Mich No-trade and uniqueness of steady-states. [["eprint_typename_scholarly-edition" not defined]]
Abstract
In the present paper a stationary overlapping-generations model with many different consumers and commodities is considered. The main result is that economies with endowments near no-trade equilibria with equal 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.
| Item Type: | ["eprint_typename_scholarly-edition" not defined] |
|---|---|
| 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 17:39 |
| Last Modified: | 15 Jan 2022 00:40 |
| URI: | http://repository.essex.ac.uk/id/eprint/3037 |