Recursive Equilibrium in Stochastic Overlapping-Generations Economies
We prove the generic existence of a recursive equilibrium for overlapping-generations economies with uncertainty. "Generic" here means in a residual set of utilities and endowments. The result holds provided there is a sufficient number of potentially different individuals within each cohort. Copyright 2010 The Econometric Society.
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Volume (Year): 78 (2010)
Issue (Month): 1 (01)
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