An integral equation representation for overlapping generations in continuous time
This paper develops a method for solving for the dynamic general equilibrium of a deterministic continuous time overlapping generations model with a finite-horizon life-cycle. The model has isoelastic preferences and allows for general assumptions about individual endowments and demographics. Solving for an equilibrium reduces to solving a nonlinear integral equation. In the special case of log utility, the integral equation is linear and global approximations to a solution are easily computed with linear algebra.
Year of publication: |
2008
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Authors: | Edmond, Chris |
Published in: |
Journal of Economic Theory. - Elsevier, ISSN 0022-0531. - Vol. 143.2008, 1, p. 596-609
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Publisher: |
Elsevier |
Keywords: | Overlapping generations Continuous time Life-cycle Intertemporal prices |
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