Multiple equilibrium in the overlapping generations model revisited |
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| Authors: | Ryoji Hiraguchi |
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| Affiliation: | Faculty of Economics, Ritsumeikan University. 1-1-1, Noji-higashi, Kusatsu, Shiga, Japan |
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| Abstract: | Bliss [Bliss, C., 2008. Multiple equilibrium in the Diamond capital model. Economics Letters 100, 143-145] finds numerically that the Diamond OLG model can have uncountably many steady states. We use log preferences and show analytically that a continuum of steady states can still exist. |
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| Keywords: | E10 |
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