Social security as Markov equilibrium in OLG models: A note

Publikation: Bidrag til tidsskriftTidsskriftartikelfagfællebedømt

  • Martin Gonzalez Eiras
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.
OriginalsprogEngelsk
TidsskriftReview of Economic Dynamics
Vol/bind14
Udgave nummer3
Sider (fra-til)549-552
Antal sider4
ISSN1094-2025
StatusUdgivet - 2011

Bibliografisk note

JEL classification: C72; H55

ID: 46842414