Tractable Graphical Device for Analyzing Stationary SOLG Economies
18 Pages Posted: 9 Apr 2013
Date Written: June 9, 2012
Abstract
This article develops a tractable graphical device for analyzing the stochastic overlapping generations (SOLG) economy. In this paper, the graphical device is applied to the theoretical study on stochastic bubbles per Weil [”Confidence and the real value of money in an overlapping generations economy,” Quarterly Journal of Economics 102 (1987), 1-22] and gives new insights into the issue.
Keywords: Box diagram, Stochastic overlapping generations model
JEL Classification: D50, D62, D81, E40
Suggested Citation: Suggested Citation
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