Overlapping Generations Economies

ISBN-13: 9780230243347 / Angielski / Miękka / 2010 / 250 str.

Mich Tvede

Opis

In the past two decades the overlapping generations (OG) model has become a dominant framework in macroeconomic analysis. This book provides a clear and self-contained introduction to OG economies.Starting with the existence of equilibrium and the optimality of allocations, the discussion then turns to properties of equilibria, including the existence of fluctuations and sunspot equilibria, ending with applications to the theories of exchange rates and endogenous growth. Throughout the book, OG economies are compared and contrasted with optimal growth economies. The presentation includes detailed proofs of results as well as illustrative examples. Growing out of research and teaching experience on the subject, the book is suitable for advanced students and researchers.

Spis treści

PART I: OVERLAPPING GENERATIONS ECONOMIES Pure Exchange OG Economies Optimality Optimal Growth Economies Stationary OG Economies Fluctuations Currencies OG Economies with Production Endogenous Growth PART II: CONSUMERS AND FIRMS Consumers Preferred Sets and Support Functions Consumers under Uncertainty Firms Appendix A: Sequences, Sets and Functions Appendix B:Differentiability of Functions Appendix C: Separation of Convex Sets Appendix D: Dynamical Systems References.

O autorze

MICH TVEDE is Professor in the Department of Economics, University of Copenhagen, Denmark. His research interests include consumer theory, economic dynamics, general equilibrium and incomplete financial markets