A characterization of the dynamical system in a two-sector overlapping-generations model: The case of unbounded growth

被引：0

作者：

Hashimoto, H ^{[1
]}

Sakuragawa, M

机构：

[1] Kobe Univ Commerce, Kobe, Hyogo, Japan

[2] Nagoya City Univ, Nagoya, Aichi 467, Japan

来源：

JAPANESE ECONOMIC REVIEW | 1999年 / 50卷 / 02期

关键词：

D O I：

10.1111/1468-5876.00109

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper characterizes perfect-foresight equilibria in a two-sector overlapping-generations economy for the case of unbounded growth. The analysis demonstrates that gross substitutability in consumption is not sufficient to ensure the determinacy of equilibrium. Unlike Boldrin and Rustichini (1994), indeterminacy of equilibria can arise within the framework of an overlapping-generations model with convex technology. The finite time horizon of agents is the source of such indeterminacy. JEL Classification Number: 041.

引用

页码：138 / 147

页数：10

共 50 条

[1] A Characterization of the Dynamical System in a Two-Sector Overlappinggenerations Model: The Case of Unbounded Growth
Hiroyuki Hashimoto
Masaya Sakuragawa
[J]. The Japanese Economic Review, 1999, 50 : 138 - 147
[2] A two-sector overlapping generations model with heterogeneous capital
Karl Farmer
Ronald Wendner
[J]. Economic Theory, 2003, 22 : 773 - 792
[3] A Two-sector Overlapping Generations Model with Endogenous Discounting
Nourry, Carine
Sergeeva, Alena
Venditti, Alain
[J]. ASIA-PACIFIC JOURNAL OF ACCOUNTING & ECONOMICS, 2011, 18 (03) : 359 - 385
[4] Dynamic efficiency in the two-sector overlapping generations model
Cremers, Emily T.
[J]. JOURNAL OF ECONOMIC DYNAMICS & CONTROL, 2006, 30 (11): : 1915 - 1936
[5] A two-sector overlapping generations model with heterogeneous capital
Farmer, K
Wendner, R
[J]. ECONOMIC THEORY, 2003, 22 (04) : 773 - 792
[6] A 2-SECTOR OVERLAPPING-GENERATIONS MODEL - A GLOBAL CHARACTERIZATION OF THE DYNAMIC SYSTEM
GALOR, O
[J]. ECONOMETRICA, 1992, 60 (06) : 1351 - 1386
[7] Environment, growth, and technological change in a two-country overlapping-generations model
Nakagawa S.
Sato M.
Yamaguchi R.
[J]. Environmental Economics and Policy Studies, 2014, 16 (4) : 397 - 443
[8] Existence and uniqueness of steady-state equilibrium in a two-sector overlapping generations model
Li, Jinlu
Lin, Shuanglin
[J]. JOURNAL OF ECONOMIC THEORY, 2008, 141 (01) : 255 - 275
[9] Social security and early retirement in an overlapping-generations growth model
Michel, P
Pestieau, P
[J]. REVUE ECONOMIQUE, 2000, 51 : 15 - 30
[10] Social Security and Early Retirement in an Overlapping-Generations Growth Model
Michel, Philippe
Pestieau, Pierre
[J]. ANNALS OF ECONOMICS AND FINANCE, 2013, 14 (2B): : 705 - 719

← 1 2 3 4 5 →