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Article Dans Une Revue Journal of Economic Dynamics and Control Année : 2001

Stability of equilibria in the overlapping generations model with endogenous labor supply

Résumé

This paper looks at the issue of existence and stability of steady-state equilibria in an overlapping generations model with productive capital (a-la Diamond) augmented to include endogenous labor supply. The paper derives some necessary and sufficient conditions under which a steady-state equilibrium is a sink, a saddle point or a source. Under a simple condition on the labor supply elasticity, it is also shown that the local stability condition of the standard Diamond model can be generalized in order to become a necessary and sufficient condition for the saddle point property of the steady-state equilibrium. © 2001 Elsevier Science B.V.

Dates et versions

hal-02878016 , version 1 (22-06-2020)

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Carine Nourry. Stability of equilibria in the overlapping generations model with endogenous labor supply. Journal of Economic Dynamics and Control, 2001, 25 (10), pp.1647--1663. ⟨10.1016/S0165-1889(99)00067-6⟩. ⟨hal-02878016⟩

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