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The overlapping generations (OLG) model is one of the dominating frameworks of analysis in the study of macroeconomic dynamics and economic growth.In contrast to the Ramsey–Cass–Koopmans neoclassical growth model in which individuals are infinitely-lived, in the OLG model individuals live a finite length of time, long enough to overlap with at least one period of another agent's life.
A major feature which sets overlapping generations models in economics apart from the standard model with a finite number of infinitely lived individuals is that the First Welfare Theorem might not hold—that is, competitive equilibria may be not be Pareto optimal.
The Overlapping Generations Model of Fiat Money," in Models of Monetary Economies, Federal Reserve Bank of Minneapolis, pp. 49–82. Abstract. _____, 2001. "Whither ...
Much of the work leading up to this paper focused on the overlapping generations model: • "The role of money in supporting the Pareto optimality of competitive equilibrium in consumption-loan type models" (with M. Okuno and I. Zilcha). J Econ Theory 20, 41–80 (1979). • "In defense of a basic approach" (with K. Shell).
Genetic algorithms have increasingly been applied to economics since the pioneering work by John H. Miller in 1986. It has been used to characterize a variety of models including the cobweb model, the overlapping generations model, game theory, schedule optimization and asset pricing.
Assets in money-market funds rose to a record $6.7 trillion. Bank of America Global Investment Strategy, Bloomberg. 5. Crypto saw its biggest week of inflows on record.
Even though both generations value saving money, Gen Z is far ahead of millennials in terms of how much they’re putting away. According to Finder’s Consumer Confidence Index, Gen Z saves an ...
Macroeconomics, where he popularized the overlapping generations model as a way to analyze economic agents' behavior across multiple periods of time, [30] developed multiplier-accelerator model, [31] analyzed Phillips curve, [32] and contributed to formation of the neoclassical synthesis.