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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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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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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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Existence of an Equilibrium in a Competitive Economy with Indivisibilities and Money
Yang, Zaifu; van der Laan, Gerard; Talman, Dolf - 1997
In this paper we introduce a model of an exchange economy with indivisible goods and money. There are many agents each of whom owns one unit of each of nitely many different types of indivisible goods and certain amount of money. Each type of indivisible good is subject to quality...
Persistent link: https://www.econbiz.de/10014170375
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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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Expectations in an OG economy
Ghiglino, Christian (contributor);  … - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10002432923
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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
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Optimal accumulation in an endogenous growth setting with human capital
Docquier, Frédéric (contributor);  … - 2006
This paper considers a three-overlapping-generations model of endogenous growth wherein human capital is the engine of growth. It first contrasts the laissez-faire and the optimal solutions. Three possible accumulation regimes are distinguished. Then it discusses a standard set of tax-transfer...
Persistent link: https://www.econbiz.de/10003310953
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Demographic change, human capital and welfare
Ludwig, Alexander; Schelkle, Thomas; Vogel, Edgar - 2010
Persistent link: https://www.econbiz.de/10003933186