Proves bidirectional mapping between two-cycle equilibria in GEILA and OLG models with three assets, enabling indeterminacy and rational bubbles in infinite-agent settings.
Overlapping Generations or Infinitely-Lived Agents: Intergenerational Altruism and the Economics of Global Warming
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The relationship between general equilibrium models with infinite-lived agents and overlapping generations models, and some applications
Proves bidirectional mapping between two-cycle equilibria in GEILA and OLG models with three assets, enabling indeterminacy and rational bubbles in infinite-agent settings.