Del 32 - International Symposia in Economic Theory and Econometrics

Overlapping Generations

Methods, Models and Morphology

Inbunden, Engelska, 2023

Av Stephen Spear, Warren Young, USA) Spear, Stephen (Carnegie Mellon University, Israel) Young, Warren (Bar Ilan University, Stephen E. Spear, Stephen E. Spear

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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.

Produktinformation

Utgivningsdatum2023-09-04
Mått152 x 229 x 18 mm
Vikt508 g
FormatInbunden
SpråkEngelska
SerieInternational Symposia in Economic Theory and Econometrics
Antal sidor264
FörlagEmerald Publishing Limited
ISBN9781837530533

Tillhör följande kategorier

Finansiering inom Ekonomi och ledarskap
Internationell ekonomi inom Ekonomi och ledarskap
Nationalekonomi inom Ekonomi och ledarskap
Ekonomiska system inom Ekonomi och ledarskap

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