Equilibrium paths in economies of overlapping generations depend on the frequency of trade. In a standard example, determinacy obtains as the frequency of trades tends to infinity or trade occurs in continuous time. If time extends infinitely into the infinite past as well as into the infinite...

Equilibrium paths in economies of overlapping generations depend on the frequency of trade. In a logarithmic example, determinacy obtains as the frequency of trades tends to infinity or trade occurs in continuous time. If time extends infinitely into the infinite past as well as into the...