This paper shows how to make hold the conjecture stated in Maskin an Tirole about the existence of a close connection between the finite, markovian stationary equilibria of a simple overlapping generations economy and the correlated equilibria of an associated finite exchange economy with...

We consider Rational Expectations Equilibria in infinite horizon models in which equilibrium to-day depends upon the past, yesterday, and the future, to-morrow. We focus attention on a category of ''Sunspot Equilibria'', (` la Davila) that have a finite support and trigger a quasi-cyclic...

The stationary structure of the simple overlapping generations economies is used to try to extend to the case with extrinsic uncertainty the characterizations of their stationary equilibria by means of symmetrical multiple equilibria of a related exchange economy in which the representative...

This paper investigates how time and uncertainty interweave. Specifically, it studies the appearance of symmetries and asymmetries - with respect to the direction in which time flows - in the set of equilibria of simple overlapping generations economies which are open-ended in both directions,...

The issue of the connection between correlated equilibria of Maskin-Tirole (1987) economies and finite markovian stationary sunspot equilibria of overlapping generations economies is reconsidered in this paper.

This paper develops a unied growth model capturing issues of endogenous economic growth, fertility, and technological progress considering the effects of geographical conditions to interpret the long transition from Malthusian stagnation, through demographic transition to modern sustained...