Equilibrium for Overlapping Generations in Continuous Time

We prove the existence of general equilibrium for continuous-time overlapping-generations models. Previous theorems exclude all non-linear C.E.S. and von Neumann–Morgenstern preferences and exclude production. Our primitive assumptions are satisfied by such preferences and by all Markovian production technologies satisfying Bewley's assumptions for Arrow–Debreu models provided that storage is possible, at some finite rate of depreciation and some positive capacity. A non-existence example shows our Markovian and storage assumptions cannot be dropped.Journal of Economic LiteratureClassification Numbers: C62, D51, D90.