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Persistent link: https://www.econbiz.de/10005388082
We introduce a new class of infinite horizon altruistic stochastic OLG models with capital and labor, but without commitment between the generations. Under mild regularity conditions, for economies with either bounded or unbounded state spaces, continuous monotone Markov perfect Nash equilibrium...
Persistent link: https://www.econbiz.de/10011065406
Persistent link: https://www.econbiz.de/10005388332