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Local Determinacy of Prices in an Overlapping Generations Model with Continuous Trading

Hippolyte d'Albis, Emmanuelle Augeraud-Véron and Herman Jan Hupkes

MPRA Paper from University Library of Munich, Germany

Abstract: We characterize the determinacy properties of the intertemporal equilibrium for a continuous-time, pure-exchange, overlapping generations economy with logarithmic preferences. Using recent advances in the theory of functional differential equations, we show that the equilibrium is locally unique and that prices converge to a balanced growth path and are determined.

Keywords: Overlapping; generations; models; ; Local; dynamics; ; Existence; ; Determinacy; ; Functional; differential; equations (search for similar items in EconPapers)
JEL-codes: C6 (search for similar items in EconPapers)
Date: 2014-10-07
New Economics Papers: this item is included in nep-dge
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Related works:
Journal Article: Local determinacy of prices in an overlapping generations model with continuous trading (2015) Downloads
Working Paper: Local determinacy of prices in an overlapping generations model with continuous trading (2015)
Working Paper: Local determinacy of prices in an overlapping generations model with continuous trading (2015)
Working Paper: Local determinacy of prices in an overlapping generations model with continuous trading (2015)
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