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An extension to the Yaari (1965)-Blanchard (1985) continuous time overlapping generations model for an endowment Arrow-Debreu economy with an age-structured population is presented. It is proved that Arrow-Debreu equilibrium prices are represented by a double linear integral equation, and depend...
Persistent link: https://www.econbiz.de/10008499567
Persistent link: https://www.econbiz.de/10005499730
This note extends the standard theory of intertemporal consumer preferences with regard environmental goods and services. It proposes an intertemporal dependent preferences framework that generates a ?persistence effect? consistent with consumer?s environmental friendly behaviours. Given the...
Persistent link: https://www.econbiz.de/10005427110
We present a continuous time overlapping generations model for an endowment Arrow-Debreu economy with an age-structured population. For an economy with a balanced growth path, we prove that Arrow-Debreu equilibrium prices exist, and their dynamic properties are age-dependent. Our model allows...
Persistent link: https://www.econbiz.de/10005463768
Endogenous mark-ups have been a matter of interest in macroeconomics, especially from the middle 1990’s onwards. However, the complexity of this class of models, does not allow general ualitative conclusions in most cases, and there is plenty of room for investigation, especially in the...
Persistent link: https://www.econbiz.de/10004978115
In this paper we deal with the global distribution of capital and output across time. We supply empirical support to model it as a partial differential equation, if the support of the distribution is related to an initial ranking of the economies. If we consider a distributional extension of the...
Persistent link: https://www.econbiz.de/10011109787
This paper presents a uncertain-lifetime overlapping-generations continuous time model for an Arrow-Debreu economy with endogenous fertility, in which age-dependent variables are explicitly introduced. The general equilibrium paths for the discount factor and newborns are derived from a system...
Persistent link: https://www.econbiz.de/10011111835
Persistent link: https://www.econbiz.de/10011121025
This paper develops an endogenous directed technical change model that is consistent with the data on the distribution of firms and production across high- and low-tech sectors, and its relationship to economic growth, in a number of developed countries. We argue that scale effects at the...
Persistent link: https://www.econbiz.de/10011123992
In this paper we deal with the global distribution of capital and output across time. We supply empirical support to model it as a partial differential equation, if the support of the distribution is related to an initial ranking of the economies. If we consider a distributional extension of the...
Persistent link: https://www.econbiz.de/10011124048