"Recursive equilibrium in stochastic overlapping-generations economies"

Paolo Siconolfi, Alessandro Citanna

© Econometrica, January 2010
Volume: 78 | Issue: 1 | Pages: 309-347

Publication type: Journal article

Research Archive Topic: Business Economics and Public Policy, Corporate Finance

Abstract

We prove generic existence of recursive equilibrium for overlapping generations economies with uncertainty. "Generic" here means in a residual set of utilities and endowments. The result holds provided there is sufficient intragenerational household heterogeneity.

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