A characterization of inefficiency in stochastic overlapping generations economies

DOI10.1016/j.jet.2008.01.002zbMath1151.91618OpenAlexW2112733227MaRDI QIDQ960269

Gaetano Bloise, Filippo L. Calciano

Publication date: 16 December 2008

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

Full work available at URL: http://hdl.handle.net/2078.1/5902

zbMATH Keywords

social securityincomplete marketsinefficiencycompetitive pricesCass criterionstochastic overlapping generations economies

Mathematics Subject Classification ID

Auctions, bargaining, bidding and selling, and other market models (91B26) Special types of economic markets (including Cournot, Bertrand) (91B54)

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EFFICIENT RAMSEY EQUILIBRIA ⋮ Optimality in an OLG model with nonsmooth preferences ⋮ Asset prices, debt constraints and inefficiency ⋮ The unit root property and optimality with a continuum of states -- pure exchange

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