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Tractable graphical device for analyzing stationary stochastic OLG economies

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  • Ohtaki, Eisei

Abstract

This article develops a tractable graphical device for analyzing the stationary, stochastic overlapping generations economy. In this paper, the graphical device is applied to the theoretical study on stochastic bubbles per Weil (1987) and gives new insights into the issue.

Suggested Citation

  • Ohtaki, Eisei, 2014. "Tractable graphical device for analyzing stationary stochastic OLG economies," Journal of Macroeconomics, Elsevier, vol. 40(C), pages 16-26.
  • Handle: RePEc:eee:jmacro:v:40:y:2014:i:c:p:16-26
    DOI: 10.1016/j.jmacro.2014.02.008
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    References listed on IDEAS

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    Cited by:

    1. Eisei Ohtaki & Hiroyuki Ozaki, 2015. "Monetary equilibria and Knightian uncertainty," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 59(3), pages 435-459, August.

    More about this item

    Keywords

    Box diagram; Stochastic overlapping generations model;

    JEL classification:

    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General

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