Recursive Equilibrium in Stochastic Overlapping-Generations Economies

Alessandro Citanna and Paolo Siconolfi
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Alessandro Citanna: GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique
Paolo Siconolfi: Graduate School of Business - Columbia University [New York]

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Abstract: We prove the generic existence of a recursive equilibrium for overlapping-generations economies with uncertainty. "Generic" here means in a residual set of utilities and endowments. The result holds provided there is a sufficient number of potentially different individuals within each cohort.

Keywords: Overlapping generations; Markov equilibrium; recursive equilibrium; transversality theorem (search for similar items in EconPapers)
Date: 2010-01
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Citations: View citations in EconPapers (8)

Published in Econometrica, 2010, 78 (1), pp.309-347. ⟨10.3982/ECTA7219⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00537071

DOI: 10.3982/ECTA7219

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