Demographic structure and overlapping generations: A simpler proof with more general conditions
d'Albis (2007) considers a continuous-time general equilibrium overlapping-generations model with age-specific mortality rates. His proof of the existence and uniqueness of the steady-state equilibrium, which can be extended to other overlapping-generations models, relies on the shape of a function that appears in the equation defining the equilibrium. By focusing on the mean age as a function of the stable population growth rate instead of the function used in d'Albis (2007), we provide a simpler proof with more general conditions. We also obtain useful properties about the first and second derivatives of the mean age function that can be applied in future work.
| Year of publication: |
2010
|
|---|---|
| Authors: | Gan, Zhuojiong ; Lau, Sau-Him Paul |
| Published in: |
Journal of Mathematical Economics. - Elsevier, ISSN 0304-4068. - Vol. 46.2010, 3, p. 311-319
|
| Publisher: |
Elsevier |
| Keywords: | Overlapping-generations model Age-specific mortality Steady-state equilibrium Mean age function |
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