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Continuous-Time Overlapping Generations Models

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  • Hippolyte D'Albis

    ()
    (LERNA - Economie des Ressources Naturelles - INRA : UR1081 - CEA : DPG - Université des Sciences Sociales - Toulouse I)

  • Emmanuelle Augeraud-Véron

    ()
    (MIA - Mathématiques, Image et Applications - Université de La Rochelle : EA3165)

Abstract

Age structured populations are studied in economics through overlapping generations models. These models allow for a realistic characterization of life-cycle behaviors and display intertemporal equilibrium that are not necessarily efficient. This article uses the latest developments in continuous time overlapping generations models to show the influence of the vintage structure of the population on the volatility of intertemporal prices. Permanent cycles can be found on the neighborhood of steady-states while the transitional dynamics are generically governed by short run fluctuations.

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Bibliographic Info

Paper provided by HAL in its series Post-Print with number hal-00424799.

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Date of creation: 2011
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Publication status: Published, Optimal Control of Age-structured Population in Economy, Demography, and the Environment., Taylor and Francis (Ed.), 2011, 45-69
Handle: RePEc:hal:journl:hal-00424799

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Keywords: overlapping generations; continuous time; life-cycle; intertemporal prices.;

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  1. Visite guidée au coeur des travaux du Meilleur jeune économiste 2012 (2/2)
    by Matthieu Solignac in Regards croisés sur l'économie on 2012-06-10 22:05:40
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Cited by:
  1. Hippolyte D'Albis & Emmanuelle Augeraud-Véron, 2012. "Frequency of trade and the determinacy of equilibrium in economies of overlapping generations," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00717392, HAL.
  2. repec:hal:journl:halshs-00717158 is not listed on IDEAS
  3. d'Albis, Hippolyte & Augeraud-Véron, Emmanuelle & Hupkes, Herman Jan, 2014. "Stability and Determinacy Conditions for Mixed-type Functional Differential Equations," MPRA Paper 56600, University Library of Munich, Germany.

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