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Continuous-Time Overlapping Generations Models

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Author Info
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)

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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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Paper provided by HAL in its series Working Papers with number hal-00424799_v1.

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Date of creation: 03 Jun 2009
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Handle: RePEc:hal:wpaper:hal-00424799_v1

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

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  1. Kim, Oliver, 1983. "Balanced equilibrium in a consumption loans model," Journal of Economic Theory, Elsevier, vol. 29(2), pages 339-346, April. [Downloadable!] (restricted)
  2. Blanchard, Olivier J, 1985. "Debt, Deficits, and Finite Horizons," Journal of Political Economy, University of Chicago Press, vol. 93(2), pages 223-47, April. [Downloadable!] (restricted)
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  3. S. Demichelis & H. Polemarchakis, 2007. "The determinacy of equilibrium in economies of overlapping generations," Economic Theory, Springer, vol. 32(3), pages 461-475, September. [Downloadable!] (restricted)
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