Generic determinacy among stationary overlapping generations

Jonathan L. Burke ()
Additional contact information
Jonathan L. Burke: Pepperdine University

Economic Theory, 2022, vol. 73, issue 4, No 6, 977-993

Abstract: Abstract For simplicity or realism, determinacy analysis for overlapping-generations models typically aggregates all conceivable commodities into a fixed, finite number of types. Analysis finds robust examples with indeterminate equilibria, which suggests indeterminacy may be significant among overlapping generations. But does robust indeterminacy exist despite that simplifying aggregation? or because of aggregation? We suggest the latter with a generic determinacy theorem for overlapping-generations models with idealized competitive markets for a continuum of commodities in discrete or continuous time. And aggregating the continuum of commodities into a finite number of types transforms some of those generic, determinate models into ostensibly-robust indeterminacy examples.

Keywords: Generic; Determinacy; Overlapping generations (search for similar items in EconPapers)
JEL-codes: D50 D53 (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)

Downloads: (external link)
http://link.springer.com/10.1007/s00199-021-01340-1 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
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:spr:joecth:v:73:y:2022:i:4:d:10.1007_s00199-021-01340-1

Ordering information: This journal article can be ordered from
http://www.springer. ... eory/journal/199/PS2

DOI: 10.1007/s00199-021-01340-1

Access Statistics for this article

Economic Theory is currently edited by Nichoals Yanneils

More articles in Economic Theory from Springer, Society for the Advancement of Economic Theory (SAET) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().