Social Security as Markov Equilibrium in OLG Models: A Note

I refine and extend the Markov perfect equilibrium of the social security policy game in Forni (2005) for the special case of logarithmic utility. Under the restriction that the policy function be continuous, instead of differentiable, the equilibrium is globally well defined and its dynamics always stable.

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Year of publication:	2010-09
Authors:	Eiras, Martín Gonzalez
Institutions:	Departamento de Economía, Universidad de San Andrés
Subject:	social security \| overlapping generations models \| Markov equilibria

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 105 6 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008678243