Balanced cycles in an OLG model with a continuum of finitely-lived individuals
This paper studies the intertemporal equilibrium of a barter economy populated with a continuum of finitely-lived overlapping generations. Assuming isoelastic preferences and zero endowments at the beginning and the end of the individual's life-span, it proves the existence of an Hopf bifurcation and provides sufficient conditions on parameters for its occurrence.
|Date of creation:||2007|
|Publication status:||Published in Economic Theory, Springer Verlag, 2007, 30 (1), pp.181-186|
|Note:||View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00630229|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
References listed on IDEAS
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- S. Rao Aiyagari, 1989.
"Can There Be Short-Period Deterministic Cycles When People Are Long Lived?,"
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- Akiomi Kitagawa & Akihisa Shibata, 2005. "Endogenous growth cycles in an overlapping generations model with investment gestation lags," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 25(3), pages 751-762, April.
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- Céline Rochon & Herakles Polemarchakis, 2006. "Debt, liquidity and dynamics," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 27(1), pages 179-211, 01.
- POLEMARCHAKIS, Heracles M. & ROCHON, Céline, 1999. "Debt, liquidity and dynamics," CORE Discussion Papers 1999034, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Herakles Polemarchakis, 2001. "Debt, liquidity and dynamics," Working Papers 2001-22, Brown University, Department of Economics.
- Céline Rochon & Heracles M. Polemarchakis, 2000. "Debt, Liquidity and Dynamics," Working Papers hal-00598235, HAL.
- Philippe Michel & Alain Venditti, 1997. "Optimal growth and cycles in overlapping generations models (*)," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 9(3), pages 511-528. Full references (including those not matched with items on IDEAS)
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