A characterization of the dynamical system in a two-sector overlapping-generations model: The case of unbounded growth

Hiroyuki Hashimoto; Masaya Sakuragawa

doi:10.1111/1468-5876.00109

A characterization of the dynamical system in a two-sector overlapping-generations model: The case of unbounded growth

Hiroyuki Hashimoto
, Masaya Sakuragawa

研究成果: Article › 査読

1 被引用数 (Scopus)

抄録

This paper characterizes perfect-foresight equilibria in a two-sector overlapping-generations economy for the case of unbounded growth. The analysis demonstrates that gross substitutability in consumption is not sufficient to ensure the determinacy of equilibrium. Unlike Boldrin and Rustichini (1994), indeterminacy of equilibria can arise within the framework of an overlapping-generations model with convex technology. The finite time horizon of agents is the source of such indeterminacy. JEL Classification Number: 041.

本文言語	English
ページ（範囲）	138-147
ページ数	10
ジャーナル	Japanese Economic Review
巻	50
号	2
DOI	https://doi.org/10.1111/1468-5876.00109
出版ステータス	Published - 1999 6月
外部発表	はい

ASJC Scopus subject areas

経済学、計量経済学

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10.1111/1468-5876.00109

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引用スタイル

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A characterization of the dynamical system in a two-sector overlapping-generations model: The case of unbounded growth

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