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Manifolds of golden rule and balanced steady state equilibria

Author

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  • Yves Balasko

    (Department of Econometrics, University of Geneva, 1211 Geneva 4, SWITZERLAND)

  • Christine Lang

    (Department of Econometrics, University of Geneva, 1211 Geneva 4, SWITZERLAND)

Abstract

We show that the set of balanced steady state (resp. golden rule) equilibria, parameterized by endowments, of stationary overlapping-generations economies are smooth manifolds diffeomorphic to Euclidean spaces. These properties extend similar properties of the Walrasian equilibria and enable one to apply the natural projection approach to the study of these equilibria.

Suggested Citation

  • Yves Balasko & Christine Lang, 1998. "Manifolds of golden rule and balanced steady state equilibria," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(2), pages 317-330.
  • Handle: RePEc:spr:joecth:v:11:y:1998:i:2:p:317-330
    Note: Received: October 30, 1995; revised version: October 10, 1996
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    Cited by:

    1. Balasko, Yves, 1999. "Markets for Composite Goods," Journal of Economic Theory, Elsevier, vol. 88(2), pages 310-339, October.
    2. Christian Ghiglino & François Duc, 2004. "Expectations in an OG Economy," Research Papers by the Institute of Economics and Econometrics, Geneva School of Economics and Management, University of Geneva 2004.10, Institut d'Economie et Econométrie, Université de Genève.

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