Competitive Equilibrium in an Overlapping Generations Model with Production Loans

The paper shows that there do exist two kinds of steady state equilibria in the overlapping generations models with consumption and production loans, similar to the pure exchagne economies examined by Gale (1973). Furthermore, the local stability properties of these two (kinds of) steady states are also investigated.

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Year of publication:	2012
Authors:	Wang, Dihai ; Wang, Gaowang ; Zou, Heng-fu
Institutions:	China Economics and Management Academy, Central University of Finance and Economics (CUFE)
Subject:	Multiple steady state paths \| Overlapping generations \| Production loans

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Extent:	application/pdf
Series:	CEMA Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 556 12 pages
Classification:	E21 - Consumption; Saving ; O41 - One, Two, and Multisector Growth Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010819297