Agents hétérogènes, croissance et déterminations de l'équilibre

Carine Nourry and Alain Venditti

Annals of Economics and Statistics, 2000, issue 59, 227-247

Abstract: We consider a one-sector growth model which combines overlapping generations of finite lived agents and infinite lived consumers. We show that two types of equilibrium may exist. A first type corresponds to the modified golden rule if the stationary consumption of infinite lived agents is strictly positive. A second type of steady state in which infinite lived agents do not consume may also exist. We give sufficient conditions for local determinacy of the interior steady state which does not depend on the "size" of infinitely lived agents. An example finally shows that the equilibrium may be locally indeterminate when both types of agents are present while the associated DIAMOND model has one unique equilibrium.

Date: 2000
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.jstor.org/stable/20076249 (text/html)

Related works:
Working Paper: Agents heterogenes, croissance et determination de l'equilibre (1999)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:2000:i:59:p:227-247

Access Statistics for this article

Annals of Economics and Statistics is currently edited by Laurent Linnemer

More articles in Annals of Economics and Statistics from GENES Contact information at EDIRC.
Bibliographic data for series maintained by Secretariat General () and Laurent Linnemer ().