Balanced cycles in an OLG model with a continuum of finitely-lived individuals |
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Authors: | Hippolyte d’Albis Emmanuelle Augeraud-Véron |
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Affiliation: | (1) GREMAQ, University of Toulouse I, 31000 Toulouse, France;(2) LMA, University of La Rochelle, 17042 La Rochelle, France |
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Abstract: | This paper studies the intertemporal equilibrium of a barter economy populated with a continuum of finitely-lived overlapping generations. Assuming isoelastic preferences and zero endowments at the beginning and the end of the individuals’ life-span, it proves the existence of an Hopf bifurcation and provides sufficient conditions on parameters for its occurrenceThe authors would like to thank an anonymous referee, Alain Venditti and Francesco Ricci for helpful comments and suggestions |
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Keywords: | Overlapping-generations models Mixed-type functional differential equations Endogenous fluctuations Hopf bifurcation |
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