Myopic and Perfect Foresight in the OLG Model

Philippe Michel and David de la Croix

G.R.E.Q.A.M. from Universite Aix-Marseille III

Abstract: We compare the dunamics under myopic foresight and under perfect foresight in an overlapping generations model with capital accumulation and two-period lived individuals. When the rational dynamics are defined and the myopic dynamics are monotonic, the study of myopic foresight allows to characterize the dynamics under perfect foresight.

Keywords: BUSINESS CYCLES; ECONOMIC GROWTH; FORECASTS (search for similar items in EconPapers)
JEL-codes: E32 O41 (search for similar items in EconPapers)
Pages: 7 pages
Date: 1999
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Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Myopic and perfect foresight in the OLG model (2000)
Working Paper: Myopic and perfect foresight in the OLG model (1999)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:aixmeq:99a35

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