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Multiple equilibrium in the overlapping generations model revisited

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  • Hiraguchi, Ryoji

Abstract

Bliss [Bliss, C., 2008. Multiple equilibrium in the Diamond capital model. Economics Letters 100, 143–145] finds numerically that the Diamond OLG model can have uncountably many steady states. We use log preferences and show analytically that a continuum of steady states can still exist.

Suggested Citation

  • Hiraguchi, Ryoji, 2012. "Multiple equilibrium in the overlapping generations model revisited," Economics Letters, Elsevier, vol. 115(1), pages 70-72.
    • Handle: RePEc:eee:ecolet:v:115:y:2012:i:1:p:70-72
    DOI: 10.1016/j.econlet.2011.11.022
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    1. Bliss, Christopher, 2008. "Multiple equilibrium in the Diamond Capital Model," Economics Letters, Elsevier, vol. 100(1), pages 143-145, July.
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    Cited by:

    1. Dihai Wang & Gaowang Wang & Heng-fu Zou, 2017. "Competitive Equilibrium in an Overlapping Generations Model with Production Loans," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 12(2), pages 268-279, June.

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    1. Dihai Wang & Gaowang Wang & Heng-fu Zou, 2017. "Competitive Equilibrium in an Overlapping Generations Model with Production Loans," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 12(2), pages 268-279, June.

    More about this item

    Keywords

    Overlapping generations; Capital; Multiple equilibria;
    All these keywords.

    JEL classification:

    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General

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