Uniqueness of Markov equilibrium in stochastic OLG models with nonclassical production (Q2452979)

From MaRDI portal
scientific article
Language Label Description Also known as
English
Uniqueness of Markov equilibrium in stochastic OLG models with nonclassical production
scientific article

    Statements

    Uniqueness of Markov equilibrium in stochastic OLG models with nonclassical production (English)
    0 references
    0 references
    6 June 2014
    0 references
    The paper provides a set of intuitive economic assumptions under which two-period overlapping-generations models with stochastic production technologies exhibit unique equilibria. This paper is of particular interest to authors employing numerical models, as the assumptions provided in this paper can indicate whether the equilibrium found in computation is, in fact, unique.
    0 references
    Markov equilibrium
    0 references
    existence
    0 references
    uniqueness
    0 references
    OLG
    0 references
    nonclassical production
    0 references

    Identifiers