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EQUILIBRIUM IN AN OVERLAPPINGGENERATIONS MODEL WITH ALTRUISTICPREFERENCE WHEN MARKETS AREFRICTIONAL
Pages: 113-124
Year: Issue:  2
Journal: Journal of Systems Science and Complexity

Keyword:  GetLinkList(KeywordFilter('OLG Model altruistic preference transaction costs pareto optimum.')'kw''CJFQ');
Abstract: Abstract. This paper examines the equilibrium existence of an overlapping generationsmodel with transaction costs. Moreover, we also show that if the equilibrium prices ofbuying equal those of selling the equilibrium allocations are pareto effiCient when the valueof the aggregate endowment at equilibrium price is finite.
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