Dynamic efficiency in overlapping generations models with stochastic production

DOI10.1016/0022-0531(90)90037-KzbMATH Open0731.90020OpenAlexW2031071533MaRDI QIDQ808980FDOQ808980

Itzhak Zilcha

Publication date: 1990

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

Full work available at URL: https://doi.org/10.1016/0022-0531(90)90037-k

Recommendations

• Dynamic efficiency of steady-state equilibria in an overlapping- generations model with productive capital
• Characterizing efficiency in stochastic overlapping generations models
• Dynamic efficiency in the two-sector overlapping generations model
• Dynamic inefficiency in an overlapping generations economy with production
• A characterization of inefficiency in stochastic overlapping generations economies
• Stationary equilibria in an overlapping generations economy with stochastic production
• On overlapping generations models with productive capital
• Local indeterminacy under dynamic efficiency in a two-sector overlapping generations economy
• Efficiency and prices in economies of overlapping generations
• Recursive equilibrium in stochastic overlapping-generations economies

zbMATH Keywords

overlapping generationsfirst and second degree stochastic dominancestochastic production

Mathematics Subject Classification ID

Resource and cost allocation (including fair division, apportionment, etc.) (91B32) Production theory, theory of the firm (91B38) General equilibrium theory (91B50) Economic growth models (91B62)

Cites Work

• The overlapping-generations model. I: The case of pure exchange without money
• Assessing Dynamic Efficiency: Theory and Evidence
• Title not available (Why is that?)
• Asset Bubbles and Overlapping Generations
• Capital Accumulation and Efficient Allocation of Resources
• On the Efficiency of a Competitive Equilibrium in Infinite Horizon Monetary Economies
• Informational diversity over time and optimality of monetary equilibria
• The overlapping-generations model. II. The case of pure exchange with money
• The role of money in supporting the Pareto optimality of competitive equilibrium in consumption-loan type models
• An extension of Cass' characterization of infinite efficient production programs
• Identifying inefficiency in smooth aggregative models of economic growth
• Risk-aversely efficient random variables: Characterization and an application to growth under uncertainty
• Efficiency Prices for Optimal Consumption Plans. IV

Cited In (15)

• On overlapping generations models with productive capital
• Could Prometheus be bound again? A contribution to the convergence controversy
• Efficiency and optimality in stochastic models with production
• Endogenous market incompleteness without market frictions: dynamic suboptimality of competitive equilibrium in multiperiod overlapping generations economies
• Local indeterminacy under dynamic efficiency in a two-sector overlapping generations economy
• Dominant root characterization of Pareto optimality and the existence of optimal equilibria in stochastic overlapping generations models
• Bubbly Markov equilibria
• The Zilcha criteria for dynamic inefficiency reconsidered
• Asset Valuation and Production Efficiency in an Overlapping-Generations Model with Production Shocks
• The Cass criterion, the net dividend criterion, and optimality
• Stationary Markovian equilibrium in overlapping generation models with stochastic nonclassical production and Markov shocks
• On the interaction between risk sharing and capital accumulation in a stochastic OLG model with production
• Intrinsic bubbles and asset price volatility
• Characterizing efficiency in stochastic overlapping generations models
• Immiserizing Growth in Diamond's Overlapping Generations Model: A Geometrical Exposition

This page was built for publication: Dynamic efficiency in overlapping generations models with stochastic production

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q808980)