Indeterminacy of equilibrium in stochastic OLG models

DOI10.1007/S00199-002-0287-6zbMath1040.91077OpenAlexW4232881926MaRDI QIDQ1404133

Martine Quinzii, Michael J. P. Magill

Publication date: 20 August 2003

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

Full work available at URL: https://doi.org/10.1007/s00199-002-0287-6

zbMATH Keywords

IndeterminacyExpectation functionsMartingale convergence theoremStationary rational expectations equilibriumStochastic overlapping generations model

Mathematics Subject Classification ID

Stochastic models in economics (91B70)

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Costless delay in negotiations ⋮ Functional sunspot equilibria ⋮ Optimality in an OLG model with nonsmooth preferences ⋮ Indeterminacy in stochastic overlapping generations models: real effects in the long run ⋮ Stationary Markov equilibria on a non-compact self-justified set ⋮ Bubbly Markov equilibria ⋮ Monetary equilibria and Knightian uncertainty

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