Ghiglino, Christian and Tvede, Mich (1995) On dynamics and the core of OG models. Economics Letters, 48 (3-4). pp. 313-317. DOI https://doi.org/10.1016/0165-1765(94)00624-b
Ghiglino, Christian and Tvede, Mich (1995) On dynamics and the core of OG models. Economics Letters, 48 (3-4). pp. 313-317. DOI https://doi.org/10.1016/0165-1765(94)00624-b
Ghiglino, Christian and Tvede, Mich (1995) On dynamics and the core of OG models. Economics Letters, 48 (3-4). pp. 313-317. DOI https://doi.org/10.1016/0165-1765(94)00624-b
Abstract
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 |
|---|---|
| Uncontrolled Keywords: | OVERLAPPING GENERATIONS MODELS; FLUCTUATIONS; CORE |
| 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 17:37 |
| Last Modified: | 04 Dec 2024 07:14 |
| URI: | http://repository.essex.ac.uk/id/eprint/3038 |