Existence of equilibrium in an OLG model with production and altruistic preferences

This note deals with the existence and uniqueness of a non-trivial steady-state equilibrium in an overlapping generations (OLG) model with productive capital and altruistic agents. We establish a necessary and sufficient condition for operative bequests which extends Abel (1987) and Weil (1987). Interestingly, we prove that the OLG model with production and altruistic agents always experiences a non-trivial steady-state equilibrium.

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Year of publication:	2000-04-13
Authors:	Thibault, Emmanuel
Published in:	Economic Theory. - Springer. - Vol. 15.2000, 3, p. 709-715
Publisher:	Springer
Subject:	OLG models \| Bequest motives

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Extent:	application/pdf
Type of publication:	Article
Notes:	Received: July 16, 1998; revised version: January 29, 1999
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005753309