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Stationary equilibria in an overlapping generations economy with stochastic production

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Near-rational behaviour and financial market fluctuations

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Overlapping

Stark, Oded; Wang, Yong - 2002

We propose a new microeconomic explanation for the divergent experiences of economies in forming human capital. We suggest that the positive effect of a longer life expectancy on human capital formation arises from two separate effects: a life expectancy effect and a prolonged intergenerational...

Persistent link: https://www.econbiz.de/10011577711