Choné, Philippe; Laroque, Guy - In: CESifo economic studies : CESifo, a joint initiative of … 63 (2017) 1, pp. 78-96
This article considers a stationary economy populated with overlapping generations that reproduce identically in continuous time. Each dynasty has a productivity and an opportunity cost of going to work that vary with age. Labor supply is extensive. At each date, the typical agent can either...