Existence, uniqueness, and stability of equilibrium in an OLG economy
This paper presents sufficient conditions for the existence of a unique and globally stable steady state equilibrium for OLG economies with production. The conditions impose separate requirements on the utility and production functions. Moreover, the conditions do not require assumptions concerning the third order derivatives of the production and utility functions. Copyright Springer-Verlag Berlin/Heidelberg 2003
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Volume (Year): 23 (2003)
Issue (Month): 1 (December)
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