Stationary equilibrium transition rules for an overlapping generations model with uncertainty
نویسندگان
چکیده
منابع مشابه
Indeterminacy of Stationary Equilibrium in Stochastic Overlapping Generations Models*
In this paper, we consider the local uniqueness properties of stationary rational expectations equilibria (REE) in a stochastic overlapping generations (OLG) model. It is known that in non-stochastic OLG models, steady-state equilibria are locally isolated, although there may exist indeterminate non-stationary perfect foresight equilibria. We show by construction that in the stochastic model, e...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 1985
ISSN: 0022-0531
DOI: 10.1016/0022-0531(85)90063-8