On stationary 3-period overlapping generations models

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Consider a stationary overlapping generations economy, where each consumer lives for three periods. We establish, by means of an example, that it is possible that a stationary economy has no Pareto optimal stationary competitive equilibrium. This is to be contrasted with the 2-period overlapping generations model.

Original languageEnglish
Pages (from-to)402-408
Number of pages7
JournalJournal of Economic Theory
Issue number2
StatePublished - Dec 1988

ASJC Scopus subject areas

  • Economics and Econometrics


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