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Agents hétérogènes, croissance et déterminations de l'équilibre

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  • Carine Nourry
  • Alain Venditti

Abstract

We consider a one-sector growth model which combines overlapping generations of finite lived agents and infinite lived consumers. We show that two types of equilibrium may exist. A first type corresponds to the modified golden rule if the stationary consumption of infinite lived agents is strictly positive. A second type of steady state in which infinite lived agents do not consume may also exist. We give sufficient conditions for local determinacy of the interior steady state which does not depend on the "size" of infinitely lived agents. An example finally shows that the equilibrium may be locally indeterminate when both types of agents are present while the associated DIAMOND model has one unique equilibrium.

Suggested Citation

  • Carine Nourry & Alain Venditti, 2000. "Agents hétérogènes, croissance et déterminations de l'équilibre," Annals of Economics and Statistics, GENES, issue 59, pages 227-247.
    • Handle: RePEc:adr:anecst:y:2000:i:59:p:227-247
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    JEL classification:

    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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