Cycles and Indeterminacy in Overlapping Generations Economies with Stone-Geary Preferences

We investigate dynamics in an overlapping generations economy with Stone-Geary preferences. We show that a steady state exists, and furthermore and importantly, that there can be a multitude of two cycles even though intertemporal elasticity of substitution in consumption exceeds unity.

MoreLess

Year of publication:	2006
Authors:	Koskela, Erkki ; Puhakka, Mikko
Institutions:	CESifo
Subject:	Stone-Geary preferences \| overlapping generations economy \| cycles and indeterminacy

More details

Extent:	application/pdf
Series:	CESifo Working Paper Series.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 1737
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005094171