Où il est question d'Italo Calvino, de tulipes, de mariages et de quelques autres
AbstractThe author shows that it was neither Maurice Allais  nor Paul Samuelson  who ?invented? the overlapping generations model, but the Italian writer Italo Calvino. In a short story written in 1944, all the basic elements where in place, and Calvino proves that not only, there exists an equilibrium, but also that this equilibrium is unstable to small exogenous shocks, such as an imported generation that is more honest than the existing ones. The model is extended to other situations such as the celebrated Dutch tulipmania and the Madoffmania, as well as to the stability, or rather, the instability of marriage. Classification JEL : B20, B22, B50, E13, Z11
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Bibliographic InfoArticle provided by Presses de Sciences-Po in its journal Revue économique.
Volume (Year): 62 (2011)
Issue (Month): 4 ()
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Other versions of this item:
- Victor Ginsburgh, 2011. "Où il est question d'Italo Calvino, de tulipes, de mariages et de quelques autres," ULB Institutional Repository 2013/151570, ULB -- Universite Libre de Bruxelles.
- GINSBURGH, Victor, . "Où il est question d'Italo Calvino, de tulipes, de mariages et de quelques autres," CORE Discussion Papers RP -2391, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
- B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
- B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
- E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
- Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
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