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Altruism and Determinacy of Equilibria in Overlapping Generations Models with Externalities

Listed author(s):
  • Alain Venditti

Cet article considere un modele a generations imbriquees avec production, dans lequal les agents sont supposes etre altruistes et la fonction de production contient un effet externe "a la Romer". Nous proposons des conditions suffisantes pour l'existence de legs stationnaires positifs qui generalisent les resultats de Weil (1987) et Abel (1987). Nous montrons que, si la fonction d'utilite est non-separable et concave, et si la technologie respecte une hypothese de regularite, laquelle englobe les effets externes positifs et negatifs, des conditions de courbure sur la fonction d'utilite le determination locale des equilibres. Sur cette base, nous etendons la propriete de determination aux equilibres periodiques de periode 2 dans les cas de fonction d'utilite homogene et separable. Finalement, nous considerons le cas de la croissance illimitee, et nous montrons que pour toutes fonctions d'utilite et de production respectant les hypotheses standard d'homogeneite, et pour tout effet externe, les sentiers de croissance equilibree sont localement determines. nous proposons ainsi une generalisation des resultats de determination obtenus par Boldrin et Rustichini (1994).

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Article provided by Japanese Economic Association in its journal The Japanese Economic Review.

Volume (Year): 54 (2003)
Issue (Month): 2 ()
Pages: 179-202

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Handle: RePEc:bla:jecrev:v:54:y:2003:i:2:p:179-202
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