Cycles and Indeterminacy in Overlapping Generations Economies with Stone-Geary Preferences

Erkki Koskela and Mikko Puhakka

No 1737, CESifo Working Paper Series from CESifo

Abstract: We investigate dynamics in an overlapping generations economy with Stone-Geary preferences. We show that a steady state exists, and furthermore and importantly, that there can be a multitude of two cycles even though intertemporal elasticity of substitution in consumption exceeds unity.

Keywords: Stone-Geary preferences; overlapping generations economy; cycles and indeterminacy (search for similar items in EconPapers)
Date: 2006
New Economics Papers: this item is included in nep-dge and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_1737

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