Publication Type
Working Paper
Version
publishedVersion
Publication Date
10-2005
Abstract
Multiple Pareto-rankable equilibria may obtain in an overlapping generations model where consumers save to reach a fixed target. Existence and uniqueness conditions are discussed. The model displays excess consumption sensitivity to current income and perfect old-age insurance.
Keywords
Multiple equilibria, saving, overlapping generations, excess sensitivity
Discipline
Behavioral Economics | Economics
Research Areas
Applied Microeconomics
Volume
21-2005
First Page
1
Last Page
8
Publisher
SMU Economics and Statistics Working Paper Series, No. 21-2005
City or Country
Singapore
Citation
GUHA, Ashok S. and GUHA, Brishti.
Future Targets and Multiple Equilibria. (2005). 21-2005, 1-8.
Available at: https://ink.library.smu.edu.sg/soe_research/864
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.