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

d’Albis, Hippolyte, Emmanuelle Augeraud-Véron () and Hermen Jan Hupkes
Authors registered in the RePEc Author Service: Hippolyte d'Albis ()

Journal of Mathematical Economics, 2015, vol. 58, issue C, 16-24

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
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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) Downloads
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