Chattopadhyay, Subir; Jimnez-Martnez, Antonio - In: Journal of Mathematical Economics 45 (2009) 3-4, pp. 223-232
We consider the stationary equilibria of one good overlapping generations (OLG) economies with a sequence of possibly incomplete asset markets and prove two results. First, we show that if some asset always pays a nonnegative dividend, then its price changes sign across states if and only if the...