Competitive Equilibrium in an Overlapping Generations Model with Production Loans

Dihai Wang, Gaowang Wang and Heng-Fu Zou ()
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Gaowang Wang: Central University of Finance and Economics

No 556, CEMA Working Papers from China Economics and Management Academy, Central University of Finance and Economics

Abstract: The paper shows that there do exist two kinds of steady state equilibria in the overlapping generations models with consumption and production loans, similar to the pure exchagne economies examined by Gale (1973). Furthermore, the local stability properties of these two (kinds of) steady states are also investigated.

Keywords: Multiple steady state paths; Overlapping generations; Production loans (search for similar items in EconPapers)
JEL-codes: E21 O41 (search for similar items in EconPapers)
Pages: 12 pages
Date: 2012
New Economics Papers: this item is included in nep-dge and nep-mac
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Related works:
Journal Article: Competitive Equilibrium in an Overlapping Generations Model with Production Loans (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:cuf:wpaper:556

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