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Overlapping Generations Models of Graded Age-Group Societies: Economics Meets Ethnography

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Author Info
Merwan Engineer () (Department of Economics, University of Victoria)
Linda Welling (Department of Economics, University of Victoria)

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Abstract

Across much of the world tribal societies are organized into age groups. In these age-group societies, social and economic relations between individuals are regulated by well-established rules governing transitions through the lifecycle. In this paper we detail the relationship between the classic formulations in Stewart's (1977) "Fundamentals of Age-Group Systems" and the overlapping generations (OLG) model. We establish that OLG models can accurately represent a large subset of actual age-group societies called graded age-set societies. Thus, an OLG model bears a close resemblance to reality.

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Publisher Info
Paper provided by Department of Economics, University of Victoria in its series Department Discussion Papers with number 0102.

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Length: 29 pages
Date of creation: 06 Jul 2001
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Handle: RePEc:vic:vicddp:0102

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Related research
Keywords: age sets graded age-group systems lifecycle overlapping generations model

Find related papers by JEL classification:
J10 - Labor and Demographic Economics - - Demographic Economics - - - General
P00 - Economic Systems - - General - - - General
Z10 - Other Special Topics - - Cultural Economics - - - General

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  1. Engineer, Merwan & Bernhardt, Dan, 1992. "Endogenous transfer institutions in overlapping generations," Journal of Monetary Economics, Elsevier, vol. 29(3), pages 445-474, June. [Downloadable!] (restricted)
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  2. Engineer, M. & Bernhardt, D., 1992. "Endogenous Transfer Institutions in Overlapping Generations," Working Papers 1992-07, University of Guelph, Department of Economics.
  3. Olivier J. Blanchard, 1984. "Debt, Deficits and Finite Horizons," NBER Working Papers 1389, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  4. Engineer, Merwan & Esteban, Joan & Sakovics, Jozsef, 1997. "Costly transfer institutions and the core in an overlapping generations model," Journal of Economic Behavior & Organization, Elsevier, vol. 32(2), pages 287-300, February. [Downloadable!] (restricted)
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  5. James Bullard, 1992. "Samuelson's model of money with n-period lifetimes," Review, Federal Reserve Bank of St. Louis, issue May, pages 67-82. [Downloadable!]
  6. Brock, W.A., 1990. "Overlapping generations models with money and transactions costs," Handbook of Monetary Economics, in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 1, chapter 7, pages 263-295 Elsevier. [Downloadable!] (restricted)
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