On stationary 3-period overlapping generations models
Consider a stationary overlapping generations economy, where each consumer lives for three periods. We establish, by means of an example, that it is possible that a stationary economy has no Pareto optimal stationary competitive equilibrium. This is to be contrasted with the 2- period overlapping generations model.
stationary overlapping generations economy
Pareto optimal stationary competitive equilibrium
scientific article; zbMATH DE number 4072667