Stochastic OLG models, market structure, and optimality

DOI10.1006/jeth.1999.2543zbMath1028.91575OpenAlexW1968602066MaRDI QIDQ1961362

Piero Gottardi, Subir Chattopadhyay

Publication date: 17 January 2000

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

Full work available at URL: https://semanticscholar.org/paper/8b7f3f6cf01441ce64dd71772a4a61fe0d10d3bc

zbMATH Keywords

efficiencycompetitive equilibriapure exchangeconditional Pareto optimalitytwo-period overlapping generations economies

Mathematics Subject Classification ID

Trade models (91B60) Economic growth models (91B62) Special types of economic markets (including Cournot, Bertrand) (91B54)

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Dividend paying assets, the unit root property, and suboptimality ⋮ EFFICIENT RAMSEY EQUILIBRIA ⋮ Optimality in stochastic OLG models: theory for tests ⋮ Functional sunspot equilibria ⋮ Optimality in an OLG model with nonsmooth preferences ⋮ Endogenous market incompleteness without market frictions: dynamic suboptimality of competitive equilibrium in multiperiod overlapping generations economies ⋮ On the optimal size of social security in the presence of a stock market ⋮ Asset prices, debt constraints and inefficiency ⋮ A complete characterization of Pareto optimality for general OLG economies. ⋮ Pareto optimality in continuous-time OLG economies ⋮ Efficiency and prices in economies of overlapping generations ⋮ On the completeness of complete markets ⋮ On the interaction between risk sharing and capital accumulation in a stochastic OLG model with production ⋮ The Cass criterion, the net dividend criterion, and optimality ⋮ A characterization of inefficiency in stochastic overlapping generations economies ⋮ On the role of labor supply for the optimal size of social security ⋮ Social security and risk sharing ⋮ The unit root property and optimality: A simple proof ⋮ The unit root property and optimality with a continuum of states -- pure exchange ⋮ Efficiency and endogenous fertility ⋮ The Zilcha criteria for dynamic inefficiency reconsidered ⋮ Bubbly Markov equilibria ⋮ Monetary equilibria and Knightian uncertainty

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