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Existence of steady - state equium in an overlapping-generations model with production (*)

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Author Info

  • Fernando Perera-Tallo

    (Innocenzo Gasparini Institute for Economic Research, Abbazia di Mirasole, I-20090 Opera , ITALY)

  • Hideo Konishi

    (Department of Economics, Southern Methodist University, Dallas,TX 75275-0496, USA)

Abstract

This paper establishes an existence theorem of a non-trivial (positive capital stock) steady-state equilibrium in Diamond's (1965) overlapping-generations model with production by employing the steady-state consumption curve introduced in Ihori (1978). The assumptions on preferences and production technologies that ensure the existence of a nontrivial steady-state equilibrium are separated from each other, unlike in Galor and Ryder (1989). We also provide two simple examples which illustrate the importance of two conditions in the theorem.

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Bibliographic Info

Article provided by Springer in its journal Economic Theory.

Volume (Year): 9 (1997)
Issue (Month): 3 ()
Pages: 529-537

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Handle: RePEc:spr:joecth:v:9:y:1997:i:3:p:529-537

Note: Received: March 1, 1994; revised version August 14, 1995
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Cited by:
  1. Bossi, Luca & Gomis-Porqueras, Pere, 2009. "Consequences Of Modeling Habit Persistence," Macroeconomic Dynamics, Cambridge University Press, vol. 13(03), pages 349-365, June.
  2. repec:hal:journl:halshs-00719762 is not listed on IDEAS
  3. Chiroleu-Assouline, Mireille & Fodha, Mouez, 2014. "From regressive pollution taxes to progressive environmental tax reforms," European Economic Review, Elsevier, vol. 69(C), pages 126-142.
  4. Hippolyte D'Albis, 2007. "Demographic structure and capital accumulation," Post-Print hal-00630200, HAL.
  5. Luisa Fuster, 2000. "Capital Accumulation in an Economy with Dynasties and Uncertain Lifetimes," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 3(4), pages 650-674, October.
  6. Li, Jinlu & Lin, Shuanglin, 2012. "Existence And Uniqueness Of Steady-State Equilibrium In A Generalized Overlapping Generations Model," Macroeconomic Dynamics, Cambridge University Press, vol. 16(S3), pages 299-311, November.
  7. repec:hal:journl:halshs-00089895 is not listed on IDEAS
  8. Mireille Chiroleu-Assouline & Mouez Fodha, 2012. "From Regressive Pollution Taxes to Progressive Environmental Tax Reforms," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00719762, HAL.
  9. Anderson, Torben M. & Bhattacharya, Joydeep, 2008. "On Myopia As Rationale for Social Security," Staff General Research Papers 12985, Iowa State University, Department of Economics.

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