This paper develops a method to study how life-cycle utility of a sequence of cohorts converges towards its steady … state level in the neoclassical two-generations-overlapping model. This method allows to characterize utility changes …

This paper develops a method to study how life-cycle utility of a sequence of cohorts converges to its steady state … level in the neoclassical 2-period overlapping generations model. This method allows to characterize utility changes …