EconPapers    
Economics at your fingertips  
 

Equilibrium price dynamics in an overlapping-generations exchange economy

Paulo Brito () and Rui Dilao

MPRA Paper from University Library of Munich, Germany

Abstract: We present a continuous time overlapping generations model for an endowment Arrow-Debreu economy with an age-structured population. For an economy with a balanced growth path, we prove that Arrow-Debreu equilibrium prices exist, and their dynamic properties are age-dependent. Our model allows for an explicit dependence of prices on critical age-specific endowment parameters. We show that, if endowments are distributed earlier than some critical age, then speculative bubbles for prices do exist.

Keywords: Arrow-Debreu equilibrium; overlapping generations models; McKendrick model (search for similar items in EconPapers)
JEL-codes: D51 G12 J10 (search for similar items in EconPapers)
Date: 2006-10-31
New Economics Papers: this item is included in nep-cba and nep-dge
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/699/1/MPRA_paper_699.pdf original version (application/pdf)

Related works:
Journal Article: Equilibrium price dynamics in an overlapping-generations exchange economy (2010) Downloads
Working Paper: Equilibrium price dynamics in an overlapping-generations exchange economy (2006) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:699

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().

 
Page updated 2025-02-08
Handle: RePEc:pra:mprapa:699