Bhattacharya, Sudipto; Fulghieri, Paolo; Rovelli, Riccardo - In: Journal of Institutional and Theoretical Economics (JITE) 154 (1998) 1, pp. 291-291
We consider the transitions among intragenerational and alternative intergenerational financing and liquidity risk sharing mechanisms, in an overlapping generations model with endogenous levels of long-lived investments. The existence and characterization of a self-sustaining mechanism, stable...