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Overlapping Generations Model with Incomplete Markets: The Numeraire Case II

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  • Abdelkrim Seghir

Abstract

This paper deals with the existence of equilibrium in a non-classical Overlapping Generations Model with incomplete markets and one-period numeraire assets. The stochastic structure of the model is given by an infinite event-tree in which each node has a finite number of immediate successors. The peculiarity of this Overlapping Generations Model consists of the eventual presence of infinitely lived agents. To rule out Ponzi schemes, we impose debt constraints, due to Levine-Zame [1996], to the infinitely lived agents.

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  • Abdelkrim Seghir, 2006. "Overlapping Generations Model with Incomplete Markets: The Numeraire Case II," Annals of Economics and Statistics, GENES, issue 81, pages 113-139.
    • Handle: RePEc:adr:anecst:y:2006:i:81:p:113-139
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    File URL: http://www.jstor.org/stable/20079141
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    Cited by:

    1. Abdelkrim Seghir & Juan Torres-Martínez, 2008. "Wealth transfers and the role of collateral when lifetimes are uncertain," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 36(3), pages 471-502, September.
    2. Seghir, Abdelkrim & Salem, Sherif, 2010. "In nitely-lived agents via two-sided altruism," MPRA Paper 31379, University Library of Munich, Germany.

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