Local determinacy of prices in an overlapping generations model with continuous trading
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
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)
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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)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:58:y:2015:i:c:p:16-24
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