Existence of equilibrium in an OLG model with production and altruistic preferences

Emmanuel Thibault

Economic Theory, 2000, vol. 15, issue 3, 709-715

Abstract: This note deals with the existence and uniqueness of a non-trivial steady-state equilibrium in an overlapping generations (OLG) model with productive capital and altruistic agents. We establish a necessary and sufficient condition for operative bequests which extends Abel (1987) and Weil (1987). Interestingly, we prove that the OLG model with production and altruistic agents always experiences a non-trivial steady-state equilibrium.

Keywords: OLG models; Bequest motives. (search for similar items in EconPapers)
Date: 2000-04-13
Note: Received: July 16, 1998; revised version: January 29, 1999
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Citations: View citations in EconPapers (36)

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