Social security as markov equilibrium in OLG models : a note
Date
2010-09
Authors
Gonzalez-Eiras, Martín
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Journal Title
Journal ISSN
Volume Title
Publisher
Universidad de San Andrés. Departamento de Economía
Abstract
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.
Description
Fil: Gonzalez-Eiras, Martín. Universidad de San Andrés. Departamento de Economía; Argentina.