[PDF] Top 20 A Characterization of Inefficiency in Stochastic Overlapping Generations Economies
Has 10000 "A Characterization of Inefficiency in Stochastic Overlapping Generations Economies" found on our website. Below are the top 20 most common "A Characterization of Inefficiency in Stochastic Overlapping Generations Economies".
A Characterization of Inefficiency in Stochastic Overlapping Generations Economies
... The characterization is further extended to sequentially incomplete ...of inefficiency is to be revealed by observable asset prices, through a (Modified) Cass ...of inefficiency is conceptually deep ... See full document
25
Efficiency and prices in economies of overlapping generations
... Keywords. Overlapping generations; efficiency; competitive prices; Cass Criterion; social ...uniform inefficiency corresponding to the presence of a welfare improvement with any small uniform ... See full document
20
The taxation of savings in overlapping generations economies with unbacked risky assets
... the stochastic asset bubbles considered there, since asset bubbles are clearly recurrent, and money in particular, as a bubble, is immediately replaced by another money should it lose value ... See full document
28
Applying Negishi’s method to stochastic models with overlapping generations
... in stochastic models with overlap- ping generations if one uses beginning of period asset holdings as the endogenous state variable (see Kubler and Polemarchakis ...production economies is an open ... See full document
32
Endogenous Market Incompleteness Without Market Frictions: Dynamic Suboptimality of Competitive Equilibrium in Multiperiod Overlapping Generations Economies
... dynamic, stochastic economies since the …rst discovery that dynamic economies can exhibit phenomena that lead to competitive allocations which are not Pareto ...the overlapping ... See full document
32
The taxation of savings in overlapping generations economies with unbacked risky assets
... the stochastic asset bubbles considered there, since asset bubbles are clearly recurrent, and money in particular, as a bubble, is immediately replaced by another money should it lose value ... See full document
26
Frequency of trade and the determinacy of equilibrium in economies of overlapping generations
... Each agent belongs to a large cohort of identical agents. Therefore even though longevity is stochastic, there is no aggregate uncertainty. The law of large numbers applies, and thus, the size of each cohort is ... See full document
28
The taxation of capital returns in overlapping generations economies without Financial assets
... the overlapping generations economy with production of Diamond ...typical inefficiency of the laissez-faire competitive equilibrium steady state, all the agents could be better-off if they saved ... See full document
31
Implementing steady state efficiency in overlapping generations economies with environmental externalities
... in economies with overlapping gen- erations have been studied since at least the ...dynamic inefficiency, productivity, health and longevity of agents have been addressed, as well, as the policy ... See full document
32
Implementing steady state efficiency in overlapping generations economies with environmental externalities
... in economies with overlapping gen- erations have been studied since at least the ...dynamic inefficiency, productivity, health and longevity of agents have been addressed, as well, as the policy ... See full document
31
The taxation of capital returns in overlapping generations economies without financial assets
... the overlapping generations economy with production of Diamond ...typical inefficiency of the laissez-faire competitive equilibrium steady state, all the agents could be better-off if they saved ... See full document
27
Indeterminacy in Stochastic Overlapping Generations Models: Real Effects in the Long Run
... The fact that incomplete markets indeterminacy exists is of limited importance unless it is combined with an estimation of the eects of this indeterminacy. We apply the numerical method developed by Feng (2013) to ... See full document
30
Reducing Overlapping Generations Economies to Finite Economies
... Once arrived to this point, some remarks are in order 26 . Firstly, notice that the role of steady state in the deterministic framework (a cycle of period 1, indeed), is played now by the sunspot cycles of period 1. ... See full document
30
Dynamic Inefficiency in an Overlapping Generations Economy with Production
... 1 Introduction 1 In an influential article that appeared in a special issue published by the Journal of Economic Theory (vol. 40, no. 1, october 1986), Reichlin [4] has shown that Hopf cycles arise in overlapping ... See full document
15
Fertility and PAYG pensions in the overlapping generations model
... This paper deals with an important policy debate: the best way to redesign government pension programmes when fertility declines. For doing this, we use the Diamond overlapping generations model augmented ... See full document
10
Social Security and Welfare in overlapping Generations
... future generations (or, in this instance, selves), which he refers to as “a practice which is ethically inde- fensible [that] arises merely from the weakness of the ... See full document
42
Overlapping Generations Models of General Equilibrium
... 11 Sunspots So far we have not allowed uncertainty into the OLG model. As a result we found no difference in interpreting trade sequentially, with each agent facing two budget constraints, or “as if” the markets all ... See full document
41
Repeated implementation with overlapping generations of agents
... We consider the implementation of socially desirable alternatives from pe- riod 0 onwards. In period t, a social choice function f assigns an alternative in A as a function of types of all agents that are alive in that ... See full document
26
Numerical simulation of the overlapping generations models with indeterminacy
... Indeterminacy is not a unique phenomenon in OLG model. It has been introduced to study the propagation mechanism of business cycle. In monetary models, indeterminacy has been used to explain the monetary transmission. In ... See full document
29
Target Saving In An Overlapping Generations Model
... We examine a model in which the utility function has been engineered so that it is optimal for consumers to aim for a fixed target level of retirement resources. In this case consumption displays excess sensitivity to ... See full document
21
Related subjects