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.

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Year of publication:	2006
Authors:	Koskela, Erkki ; Puhakka, Mikko
Publisher:	Munich : Center for Economic Studies and Ifo Institute (CESifo)

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Series:	CESifo working paper ; 1737
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	517000598 [GVK] hdl:10419/25782 [Handle]
Classification:	E21 - Consumption; Saving ; E32 - Business Fluctuations; Cycles
Source:	EconStor