Recursive Equilibrium in Stochastic Overlapping-Generations Economies

DOI10.3982/ECTA7219zbMath1202.91166OpenAlexW2134272161MaRDI QIDQ5190489

Alessandro Citanna, Paolo Siconolfi

Publication date: 18 March 2010

Published in: Econometrica (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.3982/ecta7219

zbMATH Keywords

overlapping generationstransversality theoremrecursive equilibriumMarkov equilibrium

Mathematics Subject Classification ID

Special types of economic equilibria (91B52) Special types of economic markets (including Cournot, Bertrand) (91B54)

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Recursive equilibrium with price perfect foresight and a minimal state space ⋮ Uniformly self-justified equilibria ⋮ Endogenous market incompleteness without market frictions: dynamic suboptimality of competitive equilibrium in multiperiod overlapping generations economies ⋮ Stationary Markovian equilibrium in altruistic stochastic OLG models with limited commitment ⋮ Lipschitz recursive equilibrium with a minimal state space and heterogeneous agents ⋮ Computing minimal state space recursive equilibrium in OLG models with stochastic production ⋮ Recursive equilibrium in stochastic OLG economies: Incomplete markets ⋮ Financial bubbles and capital accumulation in altruistic economies ⋮ NUMERICAL SIMULATION OF NONOPTIMAL DYNAMIC EQUILIBRIUM MODELS ⋮ Indeterminacy in stochastic overlapping generations models: real effects in the long run ⋮ A characterization of Markov equilibrium in stochastic overlapping generations models ⋮ The unit root property and optimality with a continuum of states -- pure exchange

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