Last edited by Daikus
Friday, July 24, 2020 | History

4 edition of On the equilibrium concept for overlapping generations organizations found in the catalog.

On the equilibrium concept for overlapping generations organizations

Edward C. Prescott

On the equilibrium concept for overlapping generations organizations

by Edward C. Prescott

  • 128 Want to read
  • 16 Currently reading

Published by Federal Reserve Bank of Minneapolis in [Minneapolis, Minn.] .
Written in English


Edition Notes

StatementEdward C. Prescott and Jose-Victor Rios-Rull.
SeriesFederal Reserve Bank of Minneapolis, Research Department staff report ;, 282, Staff report (Federal Reserve Bank of Minneapolis. Research Dept. : Online) ;, 282.
ContributionsRíos-Rull, José-Víctor.
Classifications
LC ClassificationsHB1
The Physical Object
FormatElectronic resource
ID Numbers
Open LibraryOL3476463M
LC Control Number2005615982

This book contains an analysis of overlapping generations' economies. Both traditional issues of microeconomics such as the existence of equilibrium and optimality of equilibrium allocations and new issues such as fluctuations, exchange rates and endogenous growth are studied. Economic Analysis. This book covers the following topics: Managerial Economics, Objectives Of The Business Firm, Fundamental Economic Concepts, Law Of Demand, Demand Elasticity, Demand Forecasting, Consumer Behaviour: Cardinal Analysis, Ordinal Analysis, Production Function, Economies Of Scale, Cost Concepts, Price Determination: Perfect Competition And Monopoly, Monopolistic .

On the Equilibrium Concept for Overlapping Generations Organizations (, with José-Victor Rios-Rull) Taxes, Regulations and Asset Prices () The Stock Market Crash of Irving Fisher Was Right! (, with Ellen R. McGrattan) Is the Stock Born: Macroeconomics, System of National Accounts, Variants of GDP, The goods market, Financial markets, Demand for money and bonds, Equilibrium in the money market, Price of bonds and interest rate, The IS-LM model, The labor market, The three markets jointly: AS and AD, Phillips curve and the open economy. Author (s): Robert M. Kunst.

  This book presents an original exposition of general equilibrium theory for advanced undergraduate and graduate-level students of economics. It contains detailed discussions of economic efficiency, competitive equilibrium, the first and second welfare theorems, the Kuhn-Tucker approach to general equilibrium, the Arrow-Debreu model, and rational expectations equilibrium and the 4/5(1). The overlapping generations model, invented by Allais and Samuelson but here augmented with land, represents such a situation. Financial equilibrium can again be reduced to general equilibrium. At first glance it would seem that the model requires a solution of an infinite number of supply equals demand equations, one for each time period.


Share this book
You might also like
Belarusian publishing in the West

Belarusian publishing in the West

Turtle diary

Turtle diary

quest for India

quest for India

Urban development law and policy

Urban development law and policy

Echoes of Fort Assiniboine and districts.

Echoes of Fort Assiniboine and districts.

Elements for a new departure in air traffic control.

Elements for a new departure in air traffic control.

Patchwork

Patchwork

Rebels on the border

Rebels on the border

Breeding the Racehorse

Breeding the Racehorse

Robert Arneson

Robert Arneson

Fountains of paradise.

Fountains of paradise.

Dictionary of income tax and sur-tax practice

Dictionary of income tax and sur-tax practice

Three preludes to the play

Three preludes to the play

Cthulhu 2000

Cthulhu 2000

On the equilibrium concept for overlapping generations organizations by Edward C. Prescott Download PDF EPUB FB2

Equilibrium concepts. A necessary feature of an equilibrium concept is that beliefs about the behavior of other agents are rational. In stationary OLG environments agents of any future generation have the op-tion of restarting, perhaps by moving along with the seeds of future generations to another island.

On the Equilibrium Concept for Overlapping Generations Organizations On the Equilibrium Concept for Overlapping Generations Organizations Share. Facebook We conclude that the existing equilibrium concepts in the literature do not satisfy this condition. We then propose an alternative equilibrium concept, organizational equilibrium, that.

Request PDF | On the equilibrium concept for overlapping generations organizations | A necessary feature for equilibrium is that beliefs about the behavior of other agents are rational. Edward C. Prescott & Jose-Victor Rios-Rull, "On the equilibrium concept for overlapping generations organizations," Working PapersFederal Reserve Bank of Minneapolis, revised Handle: RePEc:fip:fedmwp Request PDF | On equilibrium for overlapping generations organizations | Necessary conditions for equilibrium are that beliefs about the behavior of other agents are rational and individuals maximize.

isting equilibrium concepts in the literature do not satisfy this condition. The organizational equilibrium concept is applicable to other environments where there is a role for contractual arrangements that outlive their founders, which from now on we refer to as organizations.

"On Equilibrium For Overlapping Generations Organizations," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol.

46(4), pagesNovember. T1 - An analysis of the concept of equilibrium in organization theory. AU - Gazendam, H.W.M. AU - Simons, John L. PY - /4/ Y1 - /4/ N2 - This article analyzes how the equilibrium concept is used in four organization theories: the theories of Cited by: Overlapping Generationswith Perpetual Youth Perpetual Youth in Continuoustime.

Perpetual Youth in Continuous time VI DefinitionAn equilibrium in this overlapping generations economy with perpetual youth is a sequence of capital stock, wage rates, and rental rates of capital, {K(t),w(t),R(t)}∞.File Size: KB.

This book is a competent textbook on the basics of General Equilibrium and Overlapping Generations models. It is adequate for graduate and undergraduate students of economics. But is it simply put, boring and takes too much time and examples to teach GE by: On the equilibrium concept for overlapping generations organizations Working Papers, Federal Reserve Bank of Minneapolis View citations (2) Also in Staff Report, Federal Reserve Bank of Minneapolis () View citations (2) The s in Japan: a lost decade Working Papers, Federal Reserve Bank of Minneapolis View citations (4) See also Chapter.

on equilibrium for overlapping generations organizations * The equilibrium allocation exists and is essentially unique, as it is the solution to a well‐behaved maximization problem. The equilibrium allocation is much better than autarky but is not Pareto optimal, and it is very different from that implied by the standard equilibrium concepts.

Abstract. The overlapping generations model is introduced. Agents work only in the first period. In the second period they consume what they saved in the first period. Steady-state existence and properties are analyzed.

The result of the planned economy is compared to the equilibrium File Size: KB. Chapter 4 The overlapping generations (OG) model The model Now we will briefly discuss a macroeconomic model which has most of the important features of the RA model, but one - people die.

This small con-cession to reality will have a big impact on implications. Recall that the RA model had a few special characteristics: Size: KB. This book presents an exposition of general equilibrium theory for advanced undergraduate and graduate-level students of economics.

It contains discussions of economic efficiency, competitive equilibrium, the welfare theorems, the Kuhn-Tucker approach to general equilibrium, the Arrow-Debreu model, and rational expectations equilibrium and the.

Overlapping Generations Models of General Equilibrium John Geanakoplos July 3, Abstract The OLG model of Allais and Samuelson retains the methodological as-sumptions of agent optimization and market clearing from the Arrow-Debreu model, yet its equilibrium set has different properties: Pareto inefficiency, inde-terminacy, positive.

A Solutions Manual for General Equilibrium, Overlapping Generations Models, and Optimal Growth Theory [Bewley, Truman F.] on *FREE* shipping on qualifying offers. A Solutions Manual for General Equilibrium, Overlapping Generations Models, and Optimal Growth Theory5/5(1).

Note since a period in this overlap-ping generations model can be thought of as 30 years, this implies 30= () =and 1 + n= ()30 = Suppose there is a government in the competitive equilibrium which runs the follow-ing "pay-as-you-go" system.

In particular, each agent of generation t must pay a lump sum social security tax ˝File Size: KB. Growth with Overlapping Generations Problems of In–nity Problems of In–nity II Proposition In the above-described economy, the price vector p¯ such that p¯ j = 1 for all j 2 N is a competitive equilibrium price vector and induces an equilibrium with no trade, denoted by x¯.

Proof: At p¯, each household has income equal to 1. This book presents an original exposition of general equilibrium theory for advanced undergraduate and graduate-level students of economics.

It contains detailed discussions of economic efficiency, competitive equilibrium, the first and second welfare theorems, the Kuhn-Tucker approach to general equilibrium, the Arrow-Debreu model, and rational expectations equilibrium and the permanent. Overlapping generations models have recently been analyzed from a game theoretic point of view.

Specifically, the core of economies with an overlapping generations structure has been studied by Hendricks et al. [15], Kovenock [17], Esteban [9], and Chae [6], showing that com.This book presents an original exposition of general equilibrium theory for advanced undergraduate and graduate-level students of economics.

It contains detailed discussions of economic efficiency, competitive equilibrium, the first and second welfare theorems, the Kuhn–Tucker approach to general equilibrium, the Arrow–Debreu model, and rational expectations equilibrium and the permanent.Growth with Overlapping Generations Problems of In–nity Problems of In–nity II PropositionIn the above-described economy, the price vector p¯ such that p¯ j = 1 for all j 2N is a competitive equilibrium price vector and induces an equilibrium with no trade, denoted by x¯.

Proof: At p¯, each household has income equal to 1.