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Croissance optimale et cycles dans le modèle à générations imbriquées : un exemple

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  • Philippe Michel
  • Alain Venditti
  • Claude Jessua

Abstract

[fre] On étudie les propriétés dynamiques des sentiers optimaux dans un exemple du modèle à générations imbriquées à un secteur dans lequel la fonction d'utilité de l'agent représentatif est non separable. On montre dans cet exemple que le sentier optimal de croissance peut osciller et que des cycles optimaux de période deux peuvent exister. En appliquant ces résultats au modèle avec altruisme, on montre que la condition de legs positif s est parfaitement compatible avec des fluc­tuations endogènes. [eng] This paper investigates the dynamical properties of optimal paths in an exam­ple of one-sector overlapping generations model in which the utility function of the representative agent is non-separable. We show that the optimal growth path may be oscillating and optimal two-period cycles may exist. Applying these results to the model with altruism, we show that the condition of operative bequest is fully compatible with endogenous fluctuations.

Suggested Citation

  • Philippe Michel & Alain Venditti & Claude Jessua, 1996. "Croissance optimale et cycles dans le modèle à générations imbriquées : un exemple," Revue Économique, Programme National Persée, vol. 47(3), pages 487-497.
    • Handle: RePEc:prs:reveco:reco_0035-2764_1996_num_47_3_409785
    DOI: 10.3406/reco.1996.409785
    Note: DOI:10.3406/reco.1996.409785
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    References listed on IDEAS

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