Comparative statics in an Arrow-Radner incomplete market equilibrium model shows that some insights on agents' risk perception can be inferred from market prices. We call "precautionary savings" those savings which are invested in some riskless asset. The results are: precautionary savings...

This paper discusses the influence of technological externalities on the dynamic properties of accumulation paths in a two-sector growth model in discrete time.

We modify the altruistic model by assuming that income, instead of the heir's utility, enters the altruist's utility function. We name this formulation "myopic" because, unlike in Barro's (1974) model, the altruist does not need to foresee into the indenite future to make his decisions. We...

This is a study in the field of unemployment and unemployability. I build an unclosed matching model of unemployment, where matching rates are exogenous. The value of an unfilled job depends on the average skill of the unemployed, who are supposed to lose (absolutely, or relatively) some of...

We consider a discrete-time two-sector Cobb-Douglas economy with positive sector specific external effects. We show that indetermincay of steady states and cycles can easily arise with constant or decreasing social returns to scale, and very small market imperfections. This is in sharp contrast...

We consider the determinacy of perfect foresight equilibrium near a steady state in an overlapping generations model with production and both altruistic and non altruistic agents having distinct utility functions. The proportions of each type of consumers is exogenously given. Such a model may...

This paper shows that Barro's (1974) debt neutrliaty theorem does not hold in OLG economies whenever the marginal rate of substitution between both periods' consumptions evaluated at the modified golden rule capital stock is lower that the degree of intergenerational altruism. It could be...

Ce papier est une presentation simple de la notion de determination des equilibres intertemporels. Il fournit un survol de la literature concernant l'etude des proprietes de stabilite des equilibres stationnaires dans les economies d'echanges composees d'agents a duree de vie infinie et/ou de...