Jiménez-Martínez, Antonio; Chattopadhyay, Subir - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2000
We consider pure exchange, one good OLG economies under stationary Markov uncertainty. It is known that when markets are sequentially complete, a stationary equilibrium at which the agents common matrix of intertemporal rates of substitution has a Perron root which is less than or equal to one...