Overlapping Generations Models, Multiplicity of Steady States and Momentary Equilibria, and Economic Fluctuations
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https://www.nber.org/papers/w34193
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资源简介：
This paper examines the simplest OLG models with capital accumulation, demonstrating three results that stand in marked contrast to those of the standard model: first, the possibility of multiple steady states; second, the possibility of multiple momentary equilibria under rational expectations;
提供机构：
美国国家经济研究局
创建时间：
2025-09-01
