Cycles and indeterminacy in overlapping generations economies with stone-geary preferences
We investigate dynamics in an overlapping generations economy with Stone-Geary preferences. We show that a steady state exists, and furthermore and importantly, that there can be a multitude of two cycles even though intertemporal elasticity of substitution in consumption exceeds unity.
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| Format: | UnknownFormat |
| Sprache: | eng |
| Veröffentlicht: |
Munich
Univ., Center for Economic Studies u.a.
2006
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| Schriftenreihe: | CESifo working paper series Empirical and theoretical methods
1737 |
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Tag hinzufügen | Zusammenfassung: | We investigate dynamics in an overlapping generations economy with Stone-Geary preferences. We show that a steady state exists, and furthermore and importantly, that there can be a multitude of two cycles even though intertemporal elasticity of substitution in consumption exceeds unity. |
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| Beschreibung: | Literaturverz. S.9-10 |
| Beschreibung: | 10 S. graph. Darst. |