Overlapping Generations : Methods, Models and Morphology / E. Spear Stephen and Warren Young.

Format:

Book

Author/Creator:

Stephen, E. Spear, author.

Young, Warren, author.

Series:

International symposia in economic theory and econometrics ; Volume 32.

International Symposia in Economic Theory and Econometrics Series ; Volume 32

Language:

English

Subjects (All):

Macroeconomics--Econometric models.

Macroeconomics.

Macroeconomics--Methodology.

Physical Description:

1 online resource (261 pages)

Edition:

First edition.

Place of Publication:

Bingley, England : Emerald Publishing Limited, [2023]

Summary:

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.

Contents:

Intro

Half Title Page

Series Page

Title Page

Copyright Page

Dedication Page

Contents

List of Figures and Tables

Acknowledgments

Introduction

Chapter 1: Origins of the Workhorse Models

1.1 Infinite-lived Agents and the Neoclassical Growth Model

1.2. The Overlapping Generations Model: Origins and Dissemination

Chapter 2: OLG - The Next Generations, 1960-1970

2.1 The Lerner-Samuelson Debate

2.2 The Meckling-Samuelson Debate

2.3 The Diamond Model

2.4 Cass and Yaari

2.5 Shell

2.6 Starrett and Gale

Chapter 3: Expectations and the Neutrality of Money C. 1972: from OLG to Stochastic OLG

Chapter 4: Infinite-lived Agents: Dynasty, 1970-1980

Chapter 5: OLG and Money, 1970-1980

5.1 Neil Wallace

5.2 The 1978 Minneapolis Fed Conference

5.3 The Tenuousness of Money

Chapter 6: OLG and Theory, 1970-1980

6.1 Temporary Equilibrium

6.2 Optimal Taxation and Public Finance

6.3 The Balasko-Shell Analysis

6.4 Sunspots

Chapter 7: Boomers

7.1 Kehoe and Levine

7.2 Chaos

7.3 Observational Equivalence

7.4 Incomplete Markets and Financial Frictions

7.5 Pushback

7.6 Stochastic OLG

7.7 Welfare Issues

Chapter 8: Gen X and Beyond: 1995-2015

8.1 Theory

8.2 Social Security

8.3 Demography and Wealth

8.4 Search

8.5 Computation

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

9.1 Why ILA?

9.2 Whither Macroeconomics?

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

Chapter 11: Summary and Conclusion

Appendix 1: Graduate Textbook Coverage of OLG

Appendix 2: Rios-Rull Follow-on Citations

References

Index.

Notes:

Description based on print version record.

Includes bibliographical references and index.

ISBN:

1-83753-052-1