Titlebook: Economic Dynamics and General Equilibrium; Time and Uncertainty Anders Borglin Textbook 2004 Springer-Verlag Berlin Heidelberg 2004 Fluctua

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https://doi.org/10.1007/978-3-319-76911-0In the present chapter overlapping generations economies (OG economies). are introduced and the demographic structure, the market structure as well as perfect foresight, rational expectations and the notion of equilibrium are discussed.

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Failing the Public: The Media Marketplace,In this chapter we continue the study of stationary OG economies and consider the simplest type of equilibria where equilibrium prices and consumptions fluctuate over time in a regular way, rather than being constant or converging. These fluctuations may manifest themselves as deterministic or stochastic cycles.

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Assets and Income Transfers,This chapter will be concerned with equilibrium over time but as in Chapter 2 all the definitions, concepts and results carry over to economies with uncertainty and two dates.

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Economies with Uncertainty,As was pointed out in Chapter 3, the reasoning, results and definitions, regarding economies over time, . to the case of economies with uncertainty.

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Overlapping Generations Economies,In the present chapter overlapping generations economies (OG economies). are introduced and the demographic structure, the market structure as well as perfect foresight, rational expectations and the notion of equilibrium are discussed.

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Optimal Allocations in OG Economies,We have seen in Chapter 1 that in an Arrow-Debreu economy an allocation is a Pareto optimal allocation if and only if the subjective evaluations are equalized among consumers. Thus the existence of a common price system is for such economies a necessary and sufficient condition for an allocation to be a Pareto optimal allocation.

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Global Dynamics: Cyclical Equilibria,In this chapter we continue the study of stationary OG economies and consider the simplest type of equilibria where equilibrium prices and consumptions fluctuate over time in a regular way, rather than being constant or converging. These fluctuations may manifest themselves as deterministic or stochastic cycles.