Kubler, Felix; Polemarchakis, Herakles - In: Economic Theory 24 (2004) 3, pp. 623-643
At a stationary Markov equilibrium of a Markovian economy of overlapping generations, prices at a date-event are determined by the realization of the shock, the distribution of wealth and, with production, the stock of capital. Stationary Markov equilibria may not exist; this is the case with...