IDEAS home Printed from https://ideas.repec.org/p/haf/huedwp/wp201402.html
   My bibliography  Save this paper

Regularity And Stability Of Equilibria In An Overlapping Generations Growth Model

Author

Listed:

Abstract

In an exogenous-growth economy with overlapping generations we analyse local stability of a balanced growth equilibrium with respect to changes in consumption endowments, which could be interpreted as a transfer policy. We show that generically, in the space of parameters, equilibria around BGE are locally unique and are locally differentiable functions of endowments, with derivatives given by kernels. Further, those equilibria are stable in the sense that the effects of temporary changes decay exponentially towards plus and minus infinity.

Suggested Citation

  • Mertens, Jean-Francois & Rubinchik, Anna, "undated". "Regularity And Stability Of Equilibria In An Overlapping Generations Growth Model," Working Papers WP2014/2, University of Haifa, Department of Economics.
  • Handle: RePEc:haf:huedwp:wp201402
    as

    Download full text from publisher

    File URL: http://hevra.haifa.ac.il/econ/wp_files/wp201402.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Hippolyte d'Albis & Emmanuelle Augeraud-véron, 2009. "Competitive Growth In A Life-Cycle Model: Existence And Dynamics," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 50(2), pages 459-484, May.
    2. Burke, Jonathan L., 1990. "A benchmark for comparative dynamics and determinacy in overlapping-generations economies," Journal of Economic Theory, Elsevier, vol. 52(2), pages 268-303, December.
    3. Kehoe, Timothy J & Levine, David K, 1985. "Comparative Statics and Perfect Foresight in Infinite Horizon Economies," Econometrica, Econometric Society, vol. 53(2), pages 433-453, March.
    4. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66, pages 467-467.
    5. Muller, Walter III & Woodford, Michael, 1988. "Determinacy of equilibrium in stationary economies with both finite and infinite lived consumers," Journal of Economic Theory, Elsevier, vol. 46(2), pages 255-290, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:bla:jpbect:v:19:y:2017:i:5:p:903-920 is not listed on IDEAS
    2. Jean-François Mertens & Anna Rubinchik, 2017. "Discounting and welfare evaluation of policies," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 19(5), pages 903-920, October.
    3. Mertens, Jean-François & Rubinchik, Anna, 2014. "Essential properties of Lp,q spaces (the amalgams) and the implicit function theorem for equilibrium analysis in continuous time," Journal of Mathematical Economics, Elsevier, vol. 50(C), pages 187-196.

    More about this item

    Keywords

    Regularity of Infinite Economies; Policy Evaluation; Overlapping Generations;

    JEL classification:

    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:haf:huedwp:wp201402. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anna Rubinchik). General contact details of provider: http://edirc.repec.org/data/dehaiil.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.