The Overlapping Generations Model
An Overlapping-Generations Model with Search
... Abstract Search is embedded in an overlapping-generations model. The young participate in a centralized market, and then are matched in pairs in a decentralized market. The old only participate in ...
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Target Saving In An Overlapping Generations Model
... an overlapping generations model of “target savers” ...OLG model. We have also compared our model more gener- ally with more standard models and given examples of how its predictions ...
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Longevity and companionship in an overlapping generations model
... an overlapping-generations model and show that it can justify spending more resources on extending lives than the individuals themselves would have chosen to ...
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Fertility and PAYG pensions in the overlapping generations model
... Luciano Fanti • Luca Gori Department of Economics, University of Pisa, Via Cosimo Ridolfi, 10, I–56124 Pisa (PI), Italy Abstract This article analyses how long-run pay-as-you-go public pensions react to a change in ...
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An Overlapping Generations Model Core Equivalence Theorem
... the overlapping generations model with an infinite dimensional space of ...in overlapping generations models over an infinite dimensional commodity space are related to the core of the ...
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Firm valuation in an environmental overlapping generations model
... Abstract Inter-generational externalities associated with the conservation of the environment are usually tackled through fiscal policy. The recent increase in socially responsible investment funds creates a potential ...
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Transfers and the Terms of Trade in an Overlapping Generations Model
... Abstract This paper explores the steady state welfare implications of permanent transfers in a two- country, two-sector overlapping generations model. At the golden rule and with Walrasian stability, ...
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An Overlapping Generations Model of Firm Heterogeneity in Economic Development
... one-period model with constant returns in agriculture and increasing returns in manufacturing, an increase in population will increase the size of the market and thus the wage ...this ...
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Maximum sustainable government debt in the overlapping generations model
... an overlapping-generations model government debt is well known to have equivalent resource-allocation effects to an unfunded social security or pension scheme, in which the government makes a ...
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Local Determinacy of Prices in an Overlapping Generations Model with Continuous Trading
... continuous-time, overlapping generations exchange ...the model may arti fi cially produce ...discrete-time model that is para- meterized by the frequency of exchanges and that converges to a ...
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A Life-Cycle Overlapping-Generations Model of the Small Open Economy
... type overlapping-generations model incorporating a realistic description of ...a model gives rise to drastically different impulse-response functions associated with various macroeconomic ...
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Asset Bubbles in an Overlapping Generations Model with Endogenous Labor Supply
... We now provide a speci…c numerical example to illustrate the results in Proposition 3. Suppose one model period takes 30 years. Set the annual subjective discount rate to 0:9950 and the annual employ- Galor and ...
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Fertility and PAYG Pensions in an Overlapping Generations Model with Endogenous Retirement
... The consensus that the fertility rate leads to a positive impact on pensions has been questioned by Cigno (2007), who argues that “The combined effect of fewer births, longer lives and sluggish retirement age is putting ...
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Debt Policy in a Competitive Two-Sector Overlapping Generations Model
... two-sector overlapping generations model with Leontief ...one-sector model where the definite gainers are those who are alive on date ...
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Asset Bubbles in an Overlapping Generations Model with Endogenous Labor Supply
... We now provide a speci…c numerical example to illustrate the results in Proposition 3. Suppose one model period takes 30 years. Set the annual subjective discount rate to 0:9950 and the annual employ- Galor and ...
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Learning and Equilibrium Selection in a Monetary Overlapping Generations Model with Sticky
... monetary overlapping generations ...a model with a well-defined temporary equilibrium map, a coherent informational setup, and properly specified ...
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International Portfolio Choice in an Overlapping Generations Model with Transactions Costs
... simple overlapping generations model, we have shown that in a world without any barrier to international investment, where all is done to induce international diversification, a very low transaction ...
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Positive or negative real balance effects, involuntary unemployment, three-generations overlapping generations model
... E-mail: [email protected] TEL/FAX: +81-75-251-3648 Abstract We examine positive or negative real balance effect (or so-called Pigou effect) by falls in the nominal wage rate and the prices of the goods in ...
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Learning and Equilibrium Selection in a Monetary Overlapping Generations Model with Sticky Prices
... the overlapping generations model is that, independent of the degree of imperfect competition, the determinate monetary steady state is the unique stable ...
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Strategic interactions and heterogeneity in a overlapping generations model with negative environmental externalities
... dard” overlapping generations model built on John and Pecchenino (1994)’s seminal work and the subsequent Zhang (1999)’s work, where a simplified ver- sion of John and Pecchenino’s model is ...
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