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Article Dans Une Revue Journal of Mathematical Economics Année : 2015

Local determinacy of prices in an overlapping generations model with continuous trading

Résumé

We characterize the determinacy properties of the intertemporal equilibrium for a continuous-time, pure-exchange, overlapping generations economy with logarithmic preferences. Using recent advances in the theory of functional differential equations, we show that the equilibrium is locally unique and that prices converge to a balanced growth path and are determined.

Dates et versions

hal-01175922 , version 1 (13-07-2015)

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Hippolyte d'Albis, Emmanuelle Augeraud-Véron, Hermen Jan Hupkes. Local determinacy of prices in an overlapping generations model with continuous trading. Journal of Mathematical Economics, 2015, 58, pp.16-24. ⟨10.1016/j.jmateco.2015.03.001⟩. ⟨hal-01175922⟩
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