Econometrica: Jan 2010, Volume 78, Issue 1
Recursive Equilibrium in Stochastic Overlapping‐Generations Economies
Alessandro Citanna, Paolo SiconolfiWe prove the generic existence of a recursive equilibrium for overlapping‐generations economies with uncertainty. “Generic” here means in a residual set of utilities and endowments. The result holds provided there is a sufficient number of potentially different individuals within each cohort.
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