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We study the general equilibrium properties of two growth models with overlapping generations, habit formation and endogenous fertility. In the neoclassical model, habits modify the economy's growth rate and generate transitional dynamics in fertility; station- ary income per capita is...
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The paper develops a dynamical systems approach to study asset bubbles in OLG economies with stochastic production. We …. Even if they exist, bubbles are temporary and the economy converges to a bubbleless equilibrium with probability one. We …
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