Can Heterogeneous Preferences Stabilize Endogenous Fluctuations?

Stefano Bosi () and Thomas Seegmuller ()
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Stefano Bosi: EPEE, Université d’Evry
Thomas Seegmuller: CNRS and EUREQua

No 05-09, Documents de recherche from Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne

Abstract: While most of the literature concerned with indeterminacy considers a representative agent, some recent works have investigated the role of heterogenous agents on dynamics. This paper adds a contribution to the debate, stressing the effects of heterogeneity in consumers’ preferences within an overlapping generations economy with capital accumulation and consumption in both periods. We show that such an heterogeneity can stabilize fluctuations in many cases, by simply reducing the range of parameters compatible with indeterminacy.

Keywords: Endogenous fluctuations; heterogeneous preferences; overlapping generations (search for similar items in EconPapers)
JEL-codes: C62 E32 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2005
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Related works:
Journal Article: Can heterogeneous preferences stabilize endogenous fluctuations (2008)
Working Paper: Can heterogeneous preferences stabilize endogenous fluctuations? (2008)
Working Paper: Can heterogeneous preferences stabilize endogenous fluctuations? (2008)
Working Paper: Can heterogeneous preferences stabilize endogenous fluctuations? (2008)
Working Paper: Can heterogeneous preferences stabilize endogenous fluctuations? (2006)
Working Paper: Can heterogeneous preferences stabilize endogenous fluctuations? (2006)
Working Paper: Can heterogeneous preferences stabilize endogenous fluctuations? (2006)
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