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Pareto optimality of the golden rule equilibrium in an overlapping generations model with production and transfers
Mertens, Jean-François; Rubinchik-Pessach, Anna - 2012
Persistent link: https://www.econbiz.de/10009674521
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Two-Sided Altruism, Lindahl Equilibrium, and Pareto Optimality in Overlapping Generations Models
Raut, Lakshmi K. - 2005
This paper extends the Samuelsonian overlapping generations general equilibrium framework to encompass a variety of altruistic preferences by recasting it into a Lindahl equilibrium framework. The First and the Second Welfare theorems hold for Lindahl equilibrium with respect to the Malinvaud...
Persistent link: https://www.econbiz.de/10014061656
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Learning and equilibrium selection in a monetary overlapping generations model with sticky prices
Adam, Klaus - 2003
We study adaptive learning in a monetary overlapping generations model with sticky prices and monopolistic competition for the case where learning agents observe current endogenous variables. Observability of current variables is essential for informational consistency of the learning setup with...
Persistent link: https://www.econbiz.de/10009765346
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On equilibrium determinacy in overlapping generations models with money
Hirano, Tomohiro; Akira Toda, Alexis - In: Economics letters 239 (2024), pp. 1-3
Persistent link: https://www.econbiz.de/10015076682
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An Equilibrium Theory of the Business Cycle Under Certainty
Martins, Marco A C - 2005
This paper develops a full-employment theory of the business cycle in the context of a simple equilibrium dynamic … monetary model with complete information, overlapping generations and production processes. This theory is founded on three … time. According to this theory, fully anticipated monetary shocks cause the kind of movements in outputs, prices and …
Persistent link: https://www.econbiz.de/10014067165
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Existence of monetary equilibrium for overlapping generations economies with satiated agents
Urai, Ken; Murakami, Hiromi; Moriya, Takahiro - 2022
Persistent link: https://www.econbiz.de/10013357397
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The Optimal Inflation Rate in an Overlapping-Generations Economy with Land
McCallum, Bennett T. - 1986
This paper is concerned with the optimal inflation rate in an overlapping-generations economy in which (i) aggregate output is constrained by a standard neoclassical production function with diminishing marginal products for both capital and labor and (ii) the transaction-facilitating services...
Persistent link: https://www.econbiz.de/10012477183
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The Optimal Inflation Rate in an Overlapping-Generations Economy with Land
McCallum, Bennett T. - 2021
This paper is concerned with the optimal inflation rate in an overlapping-generations economy in which (i) aggregate output is constrained by a standard neoclassical production function with diminishing marginal products for both capital and labor and (ii) the transaction-facilitating services...
Persistent link: https://www.econbiz.de/10013243954
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Equilibrium health spending and population aging in a model of endogenous growth : will the GDP share of health spending keep rising?
Ehrlich, Isaac; Yin, Yong - 2014
The apparently unrelenting growth in the GDP-share of health spending (SHS) has been a perennial issue of policy concern. Does an equilibrium limit exist? The issue has been left open in recent dynamic models which take income growth and population aging as given. We view these variables as...
Persistent link: https://www.econbiz.de/10010239269
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Life-span and the determinacy of equilibrium in economies of overlapping generations
DeMichelis, Stefano; Polemarchakis, Heraklis M. - 2000
Persistent link: https://www.econbiz.de/10001514938