Local determinacy of prices in an overlapping generations model with continuous trading

被引：3

作者：

d'Albis, Hippolyte ^{[1
]}

Augeraud-Veron, Emmanuelle ^{[2
]}

Hupkes, Hermen Jan ^{[3
]}

机构：

[1] Univ Paris 01, Paris Sch Econ, CES, F-75013 Paris, France

[2] Univ La Rochelle MIA, F-47042 La Rochelle, France

[3] Leiden Univ, NL-2300 RA Leiden, Netherlands

来源：

JOURNAL OF MATHEMATICAL ECONOMICS | 2015年 / 58卷

基金：

欧洲研究理事会;

关键词：

Overlapping generations models; Local dynamics; Existence; Determinacy; Functional differential equations; INITIAL-VALUE PROBLEMS; MIXED-TYPE; ALGEBRAIC EQUATIONS; CONTINUOUS-TIME; PURE EXCHANGE; EQUILIBRIUM; ECONOMIES; DYNAMICS; GROWTH; EXISTENCE;

D O I：

10.1016/j.jmateco.2015.03.001

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

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. (C) 2015 Elsevier B.V. All rights reserved.

引用

页码：16 / 24

页数：9

共 34 条

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