Recursive equilibrium in stochastic overlapping-generations economies

Alessandro Citanna; Paolo Siconolfi

doi:10.3982/ECTA7219

Recursive equilibrium in stochastic overlapping-generations economies

Alessandro Citanna, Paolo Siconolfi

Economics

Research output: Contribution to journal › Article › peer-review

Abstract

We prove the generic existence of a recursive equilibrium for overlapping-generations economies with uncertainty. " Generic" here means in a residual set of utilities and endowments. The result holds provided there is a sufficient number of potentially different individuals within each cohort.

Original language	English (US)
Pages (from-to)	309-347
Number of pages	39
Journal	Econometrica
Volume	78
Issue number	1
DOIs	https://doi.org/10.3982/ECTA7219
State	Published - Jan 2010

Keywords

Markov equilibrium
Overlapping generations
Recursive equilibrium
Transversality theorem

ASJC Scopus subject areas

Economics and Econometrics

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10.3982/ECTA7219

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KW - Overlapping generations

KW - Recursive equilibrium

KW - Transversality theorem

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Recursive equilibrium in stochastic overlapping-generations economies

Abstract

Keywords

ASJC Scopus subject areas

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