Overlapping Generations Economies

by Tvede, Mich

• ISBN13: 9780230243347
• ISBN10: 0230243347
• Format: Paperback
• Copyright: 2010-06-15
• Publisher: Red Globe Pr

Summary

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.

Author Biography

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

Table of Contents

Preface
Introduction
OG Economies
Optimality
Optimal Growth Economies
Stationary OG Economies
Fluctuations
Currencies 
OG Economies with Production
Endogenous Growth
Consumer Theory
Preferred Sets and Support Functions
Consumer Theory under Uncertainty
Production Theory
Appendix A: Sequences, Sets and Functions
Appendix B: Separation of Convex Sets
Appendix C: Implicit Function Theorem
Appendix D: Dynamical Systems
References