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Cycles and Indeterminacy in overlapping generations economies with Stone-Geary preferences |
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| Author: | Koskela, Erkki; Puhakka, Mikko1 |
| Organizations: |
1University of Oulu, Oulu Business School, Department of Economics |
| Format: | ebook |
| Version: | published version |
| Access: | open |
| Online Access: | PDF Full Text (PDF, ) |
| Persistent link: | http://urn.fi/urn:nbn:fi-fe200802011063 |
| Language: | English |
| Published: |
2008
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| Publish Date: | 2008-02-01 |
| Description: |
AbstractWe explore dynamics in an OG economy under pure exchange and Stone-Geary preferences with positive level of saving and non-negative public debt and a relatively small second period endowment. We show the existence of a nontrivial steady state, which is either determinate or indeterminate. Furthermore, and importantly, there can be only two cycles, but no cycles of higher order. see all
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| Series: |
University of Oulu, Department of Economics, Working papers |
| Issue: | 802 |
| Subjects: | |
| Copyright information: |
© University of Oulu, 2008. This publication is copyrighted. You may download, display and print it for your own personal use. Commercial use is prohibited. |