Social security as Markov equilibrium in OLG models: A note
Research output: Contribution to journal › Journal article › Research › peer-review
Standard
Social security as Markov equilibrium in OLG models: A note. / Gonzalez Eiras, Martin.
In: Review of Economic Dynamics, Vol. 14, No. 3, 2011, p. 549-552.Research output: Contribution to journal › Journal article › Research › peer-review
Harvard
APA
Vancouver
Author
Bibtex
}
RIS
TY - JOUR
T1 - Social security as Markov equilibrium in OLG models: A note
AU - Gonzalez Eiras, Martin
N1 - JEL classification: C72; H55
PY - 2011
Y1 - 2011
N2 - I refine and extend the Markov perfect equilibrium of the social security policy game in Forni (2005) for the special case of logarithmic utility. Under the restriction that the policy function be continuous, instead of differentiable, the equilibrium is globally well defined and its dynamics always stable.
AB - I refine and extend the Markov perfect equilibrium of the social security policy game in Forni (2005) for the special case of logarithmic utility. Under the restriction that the policy function be continuous, instead of differentiable, the equilibrium is globally well defined and its dynamics always stable.
KW - Faculty of Social Sciences
KW - social security
KW - overlapping generation models
KW - Markov equilibria
M3 - Journal article
VL - 14
SP - 549
EP - 552
JO - Review of Economic Dynamics
JF - Review of Economic Dynamics
SN - 1094-2025
IS - 3
ER -
ID: 46842414