Future Targets and Multiple Equilibria

Multiple Pareto-rankable equilibria may obtain in an overlapping generations model where consumers save to reach a fixed target. Existence and uniqueness conditions are discussed. The model displays excess consumption sensitivity to current income and perfect old-age insurance.

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Year of publication:	2005-10
Authors:	Guha, Ashok S ; Guha, Brishti
Institutions:	School of Economics, Singapore Management University
Subject:	Multiple equilibria \| saving \| overlapping generations \| excess sensitivity

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Published in SMU Economics and Statistics Working Paper Series Number 21-2005 09 pages
Classification:	E21 - Consumption; Saving ; D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004970415