Agents hétérogènes, croissance et déterminations de l'équilibre
We consider a one-sector growth model which combines overlapping generations of finite lived agents and infinite lived consumers. We show that two types of equilibrium may exist. A first type corresponds to the modified golden rule if the stationary consumption of infinite lived agents is strictly positive. A second type of steady state in which infinite lived agents do not consume may also exist. We give sufficient conditions for local determinacy of the interior steady state which does not depend on the "size" of infinitely lived agents. An example finally shows that the equilibrium may be locally indeterminate when both types of agents are present while the associated DIAMOND model has one unique equilibrium.
Year of publication: |
2000
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Authors: | NOURRY, Carine ; VENDITTI, Alain |
Published in: |
Annales d'Economie et de Statistique. - École Nationale de la Statistique et de l'Admnistration Économique (ENSAE). - 2000, 59, p. 227-247
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Publisher: |
École Nationale de la Statistique et de l'Admnistration Économique (ENSAE) |
Saved in:
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