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Efficiency and optimality in stochastic models with production

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  • Bertocchi, Graziella
  • Kehagias, Athanasios

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  • Bertocchi, Graziella & Kehagias, Athanasios, 1995. "Efficiency and optimality in stochastic models with production," Journal of Economic Dynamics and Control, Elsevier, vol. 19(1-2), pages 303-325.
  • Handle: RePEc:eee:dyncon:v:19:y:1995:i:1-2:p:303-325
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    References listed on IDEAS

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    1. Zilcha, Itzhak, 1992. "Efficiency in economic growth models under uncertainty," Journal of Economic Dynamics and Control, Elsevier, vol. 16(1), pages 27-38, January.
    2. Andrew B. Abel & N. Gregory Mankiw & Lawrence H. Summers & Richard J. Zeckhauser, 1989. "Assessing Dynamic Efficiency: Theory and Evidence," Review of Economic Studies, Oxford University Press, pages 1-19.
    3. Zilcha, Itzhak, 1991. "Characterizing efficiency in stochastic overlapping generations models," Journal of Economic Theory, Elsevier, vol. 55(1), pages 1-16, October.
    4. Cass, David, 1972. "On capital overaccumulation in the aggregative, neoclassical model of economic growth: A complete characterization," Journal of Economic Theory, Elsevier, vol. 4(2), pages 200-223, April.
    5. Bertocchi, Graziella, 1994. "Safe Debt, Risky Capital," Economica, London School of Economics and Political Science, vol. 61(244), pages 493-508, November.
    6. Peled, Dan, 1982. "Informational diversity over time and the optimality of monetary equilibria," Journal of Economic Theory, Elsevier, vol. 28(2), pages 255-274, December.
    7. Cass, David & Shell, Karl, 1976. "The structure and stability of competitive dynamical systems," Journal of Economic Theory, Elsevier, vol. 12(1), pages 31-70, February.
    8. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66, pages 467-467.
    9. Bertocchi, Graziella, 1991. "Bubbles and inefficiencies," Economics Letters, Elsevier, vol. 35(2), pages 117-122, February.
    10. Jeanjean, Patrick, 1974. "Optimal development programs under uncertainty: The undiscounted case," Journal of Economic Theory, Elsevier, vol. 7(1), pages 66-92, January.
    11. Martin L. Weitzman, 1973. "Duality Theory for Infinite Horizon Convex Models," Management Science, INFORMS, vol. 19(7), pages 783-789, March.
    12. Tirole, Jean, 1985. "Asset Bubbles and Overlapping Generations," Econometrica, Econometric Society, vol. 53(6), pages 1499-1528, November.
    13. David Cass, 1965. "Optimum Growth in an Aggregative Model of Capital Accumulation," Review of Economic Studies, Oxford University Press, vol. 32(3), pages 233-240.
    14. Karl Shell & Joseph E. Stiglitz, 1967. "The Allocation of Investment in a Dynamic Economy," The Quarterly Journal of Economics, Oxford University Press, vol. 81(4), pages 592-609.
    15. Brock, William A. & Mirman, Leonard J., 1972. "Optimal economic growth and uncertainty: The discounted case," Journal of Economic Theory, Elsevier, vol. 4(3), pages 479-513, June.
    16. Cass, David & Shell, Karl, 1976. "Introduction to Hamiltonian dynamics in economics," Journal of Economic Theory, Elsevier, vol. 12(1), pages 1-10, February.
    17. Balasko, Yves & Shell, Karl, 1980. "The overlapping-generations model, I: The case of pure exchange without money," Journal of Economic Theory, Elsevier, vol. 23(3), pages 281-306, December.
    18. Zilcha, Itzhak, 1990. "Dynamic efficiency in overlapping generations models with stochastic production," Journal of Economic Theory, Elsevier, vol. 52(2), pages 364-379, December.
    19. Weil, Philippe, 1987. "Love thy children : Reflections on the Barro debt neutrality theorem," Journal of Monetary Economics, Elsevier, vol. 19(3), pages 377-391, May.
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    Cited by:

    1. Femminis, Gianluca, 2002. "Monopolistic competition, dynamic inefficiency and asset bubbles," Journal of Economic Dynamics and Control, Elsevier, vol. 26(6), pages 985-1007, June.
    2. Matsen, Egil & Thogersen, Oystein, 2004. "Designing social security - a portfolio choice approach," European Economic Review, Elsevier, vol. 48(4), pages 883-904, August.
    3. Stephen Clark, 2008. "Competitive prices for a stochastic input–output model with infinite time horizon," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 35(1), pages 1-17, April.

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