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Altruism and Determinacy of Equilibria in Overlapping Generations Models with Externalities


  • Venditti, A.


Cet article considere un modele a generations imbriquees avec production, dans lequal les agents sont supposes etre altruistes et la fonction de production contient un effet externe "a la Romer". Nous proposons des conditions suffisantes pour l'existence de legs stationnaires positifs qui generalisent les resultats de Weil (1987) et Abel (1987). Nous montrons que, si la fonction d'utilite est non-separable et concave, et si la technologie respecte une hypothese de regularite, laquelle englobe les effets externes positifs et negatifs, des conditions de courbure sur la fonction d'utilite le determination locale des equilibres. Sur cette base, nous etendons la propriete de determination aux equilibres periodiques de periode 2 dans les cas de fonction d'utilite homogene et separable. Finalement, nous considerons le cas de la croissance illimitee, et nous montrons que pour toutes fonctions d'utilite et de production respectant les hypotheses standard d'homogeneite, et pour tout effet externe, les sentiers de croissance equilibree sont localement determines. nous proposons ainsi une generalisation des resultats de determination obtenus par Boldrin et Rustichini (1994).

Suggested Citation

  • Venditti, A., 1995. "Altruism and Determinacy of Equilibria in Overlapping Generations Models with Externalities," G.R.E.Q.A.M. 97a27, Universite Aix-Marseille III.
  • Handle: RePEc:fth:aixmeq:97a27

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    References listed on IDEAS

    1. Drugeon, J.P., 2000. "On the "Equilibrium Production Possibility Frontier", Factors Substitutability and the Irrelevance of Returns to Scale for the Emergence of Local Indeterminacies in Multi-Sectoral Economies," Papiers d'Economie Mathématique et Applications 2000.125, Université Panthéon-Sorbonne (Paris 1).
    2. Lisa Morhaim & Charles-Henri Dimaria & Cuong Le Van, 2002. "The discrete time version of the Romer model," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 20(1), pages 133-158.
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    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing


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