Local determinacy of prices in an overlapping generations model with continuous trading

Hippolyte d'Albis, Emmanuelle Augeraud-Véron and Hermen Jan Hupkes
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Hermen Jan Hupkes: Mathematical institute - Universiteit Leiden = Leiden University

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Abstract: We characterize the determinacy properties of the intertemporal equilibrium for a continuous-time, pure-exchange, overlapping generations economy with logarithmic preferences. Using recent advances in the theory of functional differential equations, we show that the equilibrium is locally unique and that prices converge to a balanced growth path and are determined.

Keywords: overlapping generations models; local dynamics; existence; determinacy; functional differential equations (search for similar items in EconPapers)
Date: 2015-05
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Citations: View citations in EconPapers (1)

Published in Journal of Mathematical Economics, 2015, 58, pp.16-24. ⟨10.1016/j.jmateco.2015.03.001⟩

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Related works:
Journal Article: Local determinacy of prices in an overlapping generations model with continuous trading (2015)
Working Paper: Local determinacy of prices in an overlapping generations model with continuous trading (2015)
Working Paper: Local determinacy of prices in an overlapping generations model with continuous trading (2015)
Working Paper: Local Determinacy of Prices in an Overlapping Generations Model with Continuous Trading (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01175922

DOI: 10.1016/j.jmateco.2015.03.001

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