Conditional Pareto optimality of stationary equilibrium in a stochastic overlapping generations model

DOI10.1016/0022-0531(88)90106-8zbMath0679.90017OpenAlexW2094669182MaRDI QIDQ1823130

Yoshikiyo Sakai

Publication date: 1988

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: http://purl.umn.edu/55488

zbMATH Keywords

finite state Markov processpure exchange overlapping generations modelstationary allocationstationary equilibrium allocation

Mathematics Subject Classification ID

Economic growth models (91B62) General equilibrium theory (91B50)

Related Items (7)

Intrinsic bubbles and asset price volatility ⋮ Optimality in an OLG model with nonsmooth preferences ⋮ Optimality of Stationary Asset Equilibria Under A Stochastic Inflation Tax ⋮ Dominant root characterization of Pareto optimality and the existence of optimal equilibria in stochastic overlapping generations models ⋮ Fiat money in a pairwise-trading, multi-good, overlapping generations model ⋮ On the role of labor supply for the optimal size of social security ⋮ Monetary equilibria and Knightian uncertainty

Cites Work

• Stationary Pareto optimality of stochastic asset equilibria with overlapping generations
• Informational diversity over time and optimality of monetary equilibria
• Optimality, the interaction of spot and futures markets, and the nonneutrality of money in the Lucas model

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