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Existence of equilibrium in an OLG model with production and altruistic preferences

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  • Emmanuel Thibault

    () (GREQAM, UniversitÊ de la MÊditerranÊe, 2, rue de la CharitÊ, F-13002 Marseilles, FRANCE)

Abstract

This note deals with the existence and uniqueness of a non-trivial steady-state equilibrium in an overlapping generations (OLG) model with productive capital and altruistic agents. We establish a necessary and sufficient condition for operative bequests which extends Abel (1987) and Weil (1987). Interestingly, we prove that the OLG model with production and altruistic agents always experiences a non-trivial steady-state equilibrium.

Suggested Citation

  • Emmanuel Thibault, 2000. "Existence of equilibrium in an OLG model with production and altruistic preferences," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 15(3), pages 709-715.
  • Handle: RePEc:spr:joecth:v:15:y:2000:i:3:p:709-715 Note: Received: July 16, 1998; revised version: January 29, 1999
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    Keywords

    OLG models; Bequest motives.;

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