General equilibrium when economic growth exceeds discounting

Article Abstract:

Research is presented concerning the use of the Weizacker-overtaking criterion to evaluate continuous-time, stochastic consusmption processes and discrete-time, deterministic consumption paths.

Economic development

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Sunspots and the business cycle in a finance constrained economy

Article Abstract:

Research is presented concerning the development of a model for the study of the cyclical properties which exist in a finance constrained economy which features two classes of households.

Business cycles

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Equilibrium for overlapping generations in continuous time

Article Abstract:

General equilibrium for continuous-time overlapping-generations models exists. Nonlinear CES and von Neumann-Morgenstern preferences as well as production have been excluded from earlier overlapping generations theorems. Preferences of consumers over finite lifetimes and all Markovian production technologies satisfying Bewley's assumptions for continuous-time Arrow-Debreu models. satisfy all primitive assumptions. A non-existence example is shown to satisfy all assumptions except Markovian technology and storage.

Consumer preferences, Equilibrium (Economics), Production (Economics)

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