Recursive Equilibrium in Stochastic Overlapping-Generations Economies
Alessandro Citanna, Paolo Siconolfi
Econometrica · 2010 · Volume 78 · Issue 1
Abstract
We prove the generic existence of a 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 a sufficient number of potentially different individuals within each cohort.
Keywords
Overlapping generations, Markov equilibrium, recursive equilibrium, transversality theorem
Enable JavaScript for citation tools and additional paper interactions.