Equilibrium price dynamics in an overlapping-generations exchange economy

Detalhes bibliográficos
Autor(a) principal: Brito, Paulo
Data de Publicação: 2006
Outros Autores: Dilão, Rui
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/2651
Resumo: We present a continuous time overlapping generations model for an endowment Arrow-Debreu economy with an age-structured population. For an economy with a balanced growth path, we prove that Arrow-Debreu equilibrium prices exist, and their dynamic properties are age-dependent. Our model allows for an explicit dependence of prices on critical age-specific endowment parameters. We show that, if endowments are distributed earlier than some critical age, then speculative bubbles for prices do exist.
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spelling Equilibrium price dynamics in an overlapping-generations exchange economyArrow-Debreu EquilibriumOverlapping Generations ModelsMcKendrick ModelWe present a continuous time overlapping generations model for an endowment Arrow-Debreu economy with an age-structured population. For an economy with a balanced growth path, we prove that Arrow-Debreu equilibrium prices exist, and their dynamic properties are age-dependent. Our model allows for an explicit dependence of prices on critical age-specific endowment parameters. We show that, if endowments are distributed earlier than some critical age, then speculative bubbles for prices do exist.ISEG – Departamento de EconomiaRepositório da Universidade de LisboaBrito, PauloDilão, Rui2010-12-10T10:14:13Z20062006-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/2651engBrito, Paulo e Rui Dilão. 2006. "Equilibrium price dynamics in an overlapping-generations exchange economy". Instituto Superior de Economia e Gestão - DE Working papers nº 27-2006/DE/UECE0874-4548info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:33:50Zoai:www.repository.utl.pt:10400.5/2651Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T16:50:37.331737Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Equilibrium price dynamics in an overlapping-generations exchange economy
title Equilibrium price dynamics in an overlapping-generations exchange economy
spellingShingle Equilibrium price dynamics in an overlapping-generations exchange economy
Brito, Paulo
Arrow-Debreu Equilibrium
Overlapping Generations Models
McKendrick Model
title_short Equilibrium price dynamics in an overlapping-generations exchange economy
title_full Equilibrium price dynamics in an overlapping-generations exchange economy
title_fullStr Equilibrium price dynamics in an overlapping-generations exchange economy
title_full_unstemmed Equilibrium price dynamics in an overlapping-generations exchange economy
title_sort Equilibrium price dynamics in an overlapping-generations exchange economy
author Brito, Paulo
author_facet Brito, Paulo
Dilão, Rui
author_role author
author2 Dilão, Rui
author2_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Brito, Paulo
Dilão, Rui
dc.subject.por.fl_str_mv Arrow-Debreu Equilibrium
Overlapping Generations Models
McKendrick Model
topic Arrow-Debreu Equilibrium
Overlapping Generations Models
McKendrick Model
description We present a continuous time overlapping generations model for an endowment Arrow-Debreu economy with an age-structured population. For an economy with a balanced growth path, we prove that Arrow-Debreu equilibrium prices exist, and their dynamic properties are age-dependent. Our model allows for an explicit dependence of prices on critical age-specific endowment parameters. We show that, if endowments are distributed earlier than some critical age, then speculative bubbles for prices do exist.
publishDate 2006
dc.date.none.fl_str_mv 2006
2006-01-01T00:00:00Z
2010-12-10T10:14:13Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/2651
url http://hdl.handle.net/10400.5/2651
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Brito, Paulo e Rui Dilão. 2006. "Equilibrium price dynamics in an overlapping-generations exchange economy". Instituto Superior de Economia e Gestão - DE Working papers nº 27-2006/DE/UECE
0874-4548
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv ISEG – Departamento de Economia
publisher.none.fl_str_mv ISEG – Departamento de Economia
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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