Myopic and Perfect Foresight in the OLG Model
AbstractWe compare the dunamics under myopic foresight and under perfect foresight in an overlapping generations model with capital accumulation and two-period lived individuals. When the rational dynamics are defined and the myopic dynamics are monotonic, the study of myopic foresight allows to characterize the dynamics under perfect foresight.
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Bibliographic InfoPaper provided by Universite Aix-Marseille III in its series G.R.E.Q.A.M. with number 99a35.
Length: 7 pages
Date of creation: 1999
Date of revision:
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BUSINESS CYCLES ; ECONOMIC GROWTH ; FORECASTS;
Other versions of this item:
- Michel, Philippe & de la Croix, David, 1999. "Myopic and perfect foresight in the OLG model," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1999014, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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