Stationary equilibrium transition rules for an overlapping generations model with uncertainty
dc.contributor.author | Laitner, John P. | en_US |
dc.date.accessioned | 2006-04-07T19:09:17Z | |
dc.date.available | 2006-04-07T19:09:17Z | |
dc.date.issued | 1985-02 | en_US |
dc.identifier.citation | Laitner, John P. (1985/02)."Stationary equilibrium transition rules for an overlapping generations model with uncertainty." Journal of Economic Theory 35(1): 83-108. <http://hdl.handle.net/2027.42/25760> | en_US |
dc.identifier.uri | http://www.sciencedirect.com/science/article/B6WJ3-4CYGBG5-JB/2/267d50d9baa19fb8043ccd3ff3df3e6a | en_US |
dc.identifier.uri | https://hdl.handle.net/2027.42/25760 | |
dc.description.abstract | An overlapping generations model incorporating random production shocks is studied. Households have finite life spans. Futures markets are incomplete. Agents have full information in one case, and receive only a limited signal in another. In both instances the existence of a time-autonomous transition rule is proved such that if all agents forecast using it, the economy's actual growth will bear the predictions out. The rule corresponds to a steady state for a non-stochastic model. With limited information, it is seen to depend on all past signals. Several approximation theorems which may facilitate future applications are presented. | en_US |
dc.format.extent | 1392132 bytes | |
dc.format.extent | 3118 bytes | |
dc.format.mimetype | application/pdf | |
dc.format.mimetype | text/plain | |
dc.language.iso | en_US | |
dc.publisher | Elsevier | en_US |
dc.title | Stationary equilibrium transition rules for an overlapping generations model with uncertainty | en_US |
dc.type | Article | en_US |
dc.rights.robots | IndexNoFollow | en_US |
dc.subject.hlbsecondlevel | Economics | en_US |
dc.subject.hlbtoplevel | Business | en_US |
dc.description.peerreviewed | Peer Reviewed | en_US |
dc.contributor.affiliationum | Department of Economics, University of Michigan, Ann Arbor, Michigan 48109, USA | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/25760/1/0000321.pdf | en_US |
dc.identifier.doi | http://dx.doi.org/10.1016/0022-0531(85)90063-8 | en_US |
dc.identifier.source | Journal of Economic Theory | en_US |
dc.owningcollname | Interdisciplinary and Peer-Reviewed |
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