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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https://mpra.ub.uni-muenchen.de/59126/1/MPRA_paper_59126.pdf original version (application/pdf)
Related works:
Journal Article: 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)
Working Paper: Local determinacy of prices in an overlapping generations model with continuous trading (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:59126
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