Efficiency and prices in economies of overlapping generations

Gaetano Bloise

No 72, Departmental Working Papers of Economics - University 'Roma Tre' from Department of Economics - University Roma Tre

Abstract: In a general economy of overlapping generations, I introduce a notion of uniform ine±ciency, corresponding to the occurrence of a Pareto improvement with a small uniform destruction of resources (Debreu [11]). I provide necessary and su±cient conditions for uniform ine±ciency in terms of competitive equilibrium prices. Minimal assumptions are needed for such a complete characterization; moreover, proofs reduce to simple and short direct arguments. Finally, I verify that uniform ine±ciency is preserved under perturbations of the endowments, a property that has not been established for the canonical notion of ine±ciency. Remarkably, an allocation is unifo

Keywords: Overlapping generations; e±ciency; competitive prices; Cass Criterion; social security (search for similar items in EconPapers)
JEL-codes: D52 D61 (search for similar items in EconPapers)
Pages: 20
Date: 2007-12
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://host.uniroma3.it/dipartimenti/economia/pdf/wp72.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found

Related works:
Journal Article: Efficiency and prices in economies of overlapping generations (2008)
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:rtr:wpaper:0072

Access Statistics for this paper

More papers in Departmental Working Papers of Economics - University 'Roma Tre' from Department of Economics - University Roma Tre Via Silvio d'Amico 77, - 00145 Rome Italy. Contact information at EDIRC.
Bibliographic data for series maintained by Telephone for information ().