Necessary and sufficient conditions for determinacy of asymptotically stationary equilibria in OLG models

Alexander Gorokhovsky and Anna Rubinchik ()

Journal of Economic Theory, 2022, vol. 204, issue C

Abstract: We propose a criterion for verifying whether an equilibrium of an overlapping-generations model is amenable to local policy analysis, i.e., is determinate. The criterion is applicable for a generic set of parameters of the model, and in case of indeterminacy, it indicates the nature of the problem: multiplicity of equilibria or their absence for near-by parameters.

Keywords: Overlapping generations; Implicit function theorem; Determinacy; Time-invariance; Comparative statics (search for similar items in EconPapers)
JEL-codes: C02 C62 D50 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Working Paper: Necessary and Sufficient Conditions for Determinacy of Asymptotically Stationary Equilibria in Olg Models (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:204:y:2022:i:c:s0022053122000862

DOI: 10.1016/j.jet.2022.105496

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