A Stochastic Overlapping Generations Economy with Inheritance

نویسندگان
چکیده

برای دانلود رایگان متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

A Stochastic Overlapping Generations Economy with Inheritance

An overlapping generations model of an exchange economy is considered, with individuals having a finite expected life-span. As the model is designed to be a fully playable game, conditions concerning birth, death, inheritance and bequests are fully specified.

متن کامل

Risk Sharing in a Stochastic Overlapping Generations Economy

This paper examines the impact of government policy on the allocation of aggregate risks in a stochastic OG model with production. The market allocation of risk depends significantly on the young generation’s willingness to substitute intertemporally and on government policy. Safe government debt shifts productivity risk from old to young while wageindexed social security is essentially neutral...

متن کامل

Active Intermediation in a Monetary Overlapping Generations Economy

It is now widely believed that government intervention is essential to ensure Pareto efficiency in the standard overlapping generations economy with nonaltruistic agents. This paper argues that the normal profit-seeking activities of private intermediaries—missing from the standard overlapping generations economy—would tend to eliminate the need for such government intervention. A private earni...

متن کامل

Recursive Equilibrium in Stochastic Overlapping - Generations Economies

THE OVERLAPPING-GENERATIONS (OLG) model, introduced first by Allais (1947) and Samuelson (1958), is one of the two major workhorses for macroeconomic and financial modeling of open-ended dynamic economies. Following developments in the study of two-period economies, the OLG model has been extended to cover stochastic economies with production and possibly incomplete financial markets. As is the...

متن کامل

Business Cycle Phenomena in Overlapping Generations Economies with Stochastic Production

This paper analyzes economic uctuations in an overlapping generations economy with productive capital in which random shocks in aggregate productivity are present. Under speci c assumptions we obtain an explicit solution of the model. Applying random dynamical systems theory, we can prove that the long-run behavior of the economy is uniquely described by an asymptotically stable random xed poin...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: Journal of Economics

سال: 2002

ISSN: 0931-8658,1617-7134

DOI: 10.1007/s00712-002-0545-x