Nonmonetary steady states in stationary overlapping generations models with long lived agents and discounting: Multiplicity, optimality, and consumption smoothing

DOI10.1016/0022-0531(88)90256-6zbMath0656.90008OpenAlexW2120804765MaRDI QIDQ1110427

S. Rao Aiyagari

Publication date: 1988

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: http://www.minneapolisfed.org/research/WP/WP325.pdf

zbMATH Keywords

sequence of overlapping generation modelsstationary pure exchange environment

Mathematics Subject Classification ID

Utility theory (91B16) Economic growth models (91B62) General equilibrium theory (91B50)

Related Items (1)

Endogenous cycles with long-lived agents

Cites Work

• Optimal growth with many consumers
• Regularity in overlapping generations exchange economies
• Stationary cardinal utility and optimal growth under uncertainty
• Rational expectations in the overlapping generations model
• Comparative Statics and Perfect Foresight in Infinite Horizon Economies
• On the Possibility of Speculation under Rational Expectations
• Asset Bubbles and Overlapping Generations
• Equilibrium in dynamic models with an infinity of agents

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