Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/67054 
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dc.contributor.authorHillebrand, Martenen
dc.date.accessioned2012-11-28-
dc.date.accessioned2012-11-29T13:06:24Z-
dc.date.available2012-11-29T13:06:24Z-
dc.date.issued2012-
dc.identifier.piurn:nbn:de:swb:90-311289en
dc.identifier.pidoi:10.5445/IR/1000031128en
dc.identifier.urihttp://hdl.handle.net/10419/67054-
dc.description.abstractThis paper studies Markov Equilibria (ME) corresponding to recursive equilibria on natural state space in the stochastic OLG model extended to include non-additive utility, nonclassical production, and Markovian production shocks. Specifically, we provide sufficient conditions under which the ME in unique. It turns out that uniqueness for a large class of economies and that restrictions either on the consumption side or the production side alone are sufficient to garantuee this result. We also discuss additional properties such as continuity or smoothness of the equilibrium mappings and whether additional recursive or non-recursive euilibria exist.en
dc.language.isoengen
dc.publisher|aKarlsruher Institut für Technologie (KIT), Institut für Volkswirtschaftslehre (ECON) |cKarlsruheen
dc.relation.ispartofseries|aKIT Working Paper Series in Economics |x46en
dc.subject.jelC62en
dc.subject.jelD51en
dc.subject.jelE32en
dc.subject.ddc330en
dc.subject.keywordMarkov equilibrium : Uniquenessen
dc.subject.keywordOverlapping generationsen
dc.subject.keywordNonclassical productionen
dc.subject.keywordMarkovian production shocksen
dc.titleUniqueness of Markov equilibrium in stochastic OLG models with nonclassical production-
dc.typeWorking Paperen
dc.identifier.ppn730577619en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:kitwps:46en

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