On stationary 3-period overlapping generations models (Q1110437)
From MaRDI portal
scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | On stationary 3-period overlapping generations models |
scientific article |
Statements
On stationary 3-period overlapping generations models (English)
0 references
1988
0 references
Consider a stationary overlapping generations economy, where each consumer lives for three periods. We establish, by means of an example, that it is possible that a stationary economy has no Pareto optimal stationary competitive equilibrium. This is to be contrasted with the 2- period overlapping generations model.
0 references
stationary overlapping generations economy
0 references
Pareto optimal stationary competitive equilibrium
0 references
