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Overlapping Generations - Stephen Spear, Warren Young

Overlapping Generations

Methods, Models and Morphology
Buch | Hardcover
264 Seiten
2023
Emerald Publishing Limited (Verlag)
978-1-83753-053-3 (ISBN)
CHF 157,10 inkl. MwSt
The 800 pound gorilla in the room of macroeconomics is the question of why the overlapping generations model didn’t become the central workhorse model for macroeconomics, as opposed to the neoclassical growth model. The authors here explore the co-evolution of the two models.
The 800 pound gorilla in the room of macroeconomics is the question of why the overlapping generations model didn’t become the central workhorse model for macroeconomics. Introduced in 1958 by Paul Samuelson, the model postulates an infinite number of finite-lived families. This is in stark contrast to the more dominant neoclassical growth model, which is based on the assumption that real economies are populated by a finite number of dynastic families. Despite the greater realism of the former model and the inherent implausibility of the assumptions underlying the growth model, the growth model has become dominant. The authors here explore the co-evolution of the two models to shed light on why this happened, spanning the entire post-WWII era.

Stephen E. Spear is Professor of Economics at Tepper School of Business, Carnegie Mellon University, Pittsburgh, USA. Warren Young is Professor Emiratus at the Department of Economics, Bar Ilan University, Ramat Gan, Israel.

Introduction. Introduction

Chapter 1. Origins of the Workhorse Models

Chapter 2. OLG – The Next Generations, 1960-1970

Chapter 3. Expectations and the Neutrality of Money c. 1972: From OLG to SOLG

Chapter 4. Infinite Lived Agents: Dynasty, 1970-1980

Chapter 5. OLG and Money, 1970-1980

Chapter 6. OLG and Theory, 1970-1980

Chapter 7. Boomers

Chapter 8. Gen X and Beyond: 1995-2015

Chapter 9. The Ascendance of ILA and the Future of Macro

Chapter 10. Morphology of OLG Models and Methods in Comparative Perspective

Chapter 11. Summary and Conclusion

Erscheinungsdatum
Reihe/Serie International Symposia in Economic Theory and Econometrics
Verlagsort Bingley
Sprache englisch
Maße 152 x 229 mm
Gewicht 508 g
Themenwelt Wirtschaft Betriebswirtschaft / Management Finanzierung
Betriebswirtschaft / Management Spezielle Betriebswirtschaftslehre Bankbetriebslehre
Wirtschaft Betriebswirtschaft / Management Wirtschaftsinformatik
ISBN-10 1-83753-053-X / 183753053X
ISBN-13 978-1-83753-053-3 / 9781837530533
Zustand Neuware
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