The determinacy of equilibrium in economies of overlapping generations
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Publication:2642875
Considering a special economy of overlapping generations where time goes from infinite past to infinite future or has a finite starting point the authors give (for the discrete as well as for the continuous case of time) equations for the equilibrium prices. In the discrete case they get a linear difference equation, in the other case they obtain a convolution equation. They discuss problems of stationarity, indeterminacy, uniqueness and smoothness, and connections between some of the results in both the considered cases. In the continuous case the proofs use Fourier analysis and Laplace transformations.
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