Continuous-Time Overlapping Generations Models
Identifieur interne : 000224 ( Main/Exploration ); précédent : 000223; suivant : 000225Continuous-Time Overlapping Generations Models
Auteurs : Hippolyte D'Albis [France] ; Emmanuelle Augeraud-Véron [France]Source :
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Abstract
Age structured populations are studied in economics through overlapping generations models. These models allow for a realistic characterization of life-cycle behaviors and display intertemporal equilibrium that are not necessarily efficient. This article uses the latest developments in continuous time overlapping generations models to show the influence of the vintage structure of the population on the volatility of intertemporal prices. Permanent cycles can be found on the neighborhood of steady-states while the transitional dynamics are generically governed by short run fluctuations.
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Le document en format XML
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<front><div type="abstract" xml:lang="en">Age structured populations are studied in economics through overlapping generations models. These models allow for a realistic characterization of life-cycle behaviors and display intertemporal equilibrium that are not necessarily efficient. This article uses the latest developments in continuous time overlapping generations models to show the influence of the vintage structure of the population on the volatility of intertemporal prices. Permanent cycles can be found on the neighborhood of steady-states while the transitional dynamics are generically governed by short run fluctuations.</div>
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