On the equivalence between the overlapping-generations model and cyclical general-equilibrium models (Q1601339)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | On the equivalence between the overlapping-generations model and cyclical general-equilibrium models |
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On the equivalence between the overlapping-generations model and cyclical general-equilibrium models (English)
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1999
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The authors show that there exists a bijection between equilibria of a cyclical exchange economy and equilibrium cycles. They use this result to show the existence of cycles of increasing length. They extend their result to a model with \(m\) goods and \(\ell\) consumers, and to models with growing population.
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overlapping generations
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general equilibrium cycles
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cyclical general equilibrium model
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