Overlapping generations: methods, models and morphology
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 con...
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| Main Author: | |
|---|---|
| Other Authors: | |
| Format: | eBook |
| Language: | English |
| Published: |
Bingley, U.K.
Emerald Publishing Limited
2023
|
| Series: | International symposia in economic theory and econometrics
32 |
| Links: | https://doi.org/10.1108/S1571-0386202332 |
| 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. 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. |
| Physical Description: | 1 Online-Ressource (332 Seiten) |
| ISBN: | 9781837530540 |
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| spelling | Spear, Stephen E. Overlapping generations methods, models and morphology Stephen E. Spear (Carnegie Mellon University, USA) and Warren Young (Bar Ilan University, Israel) Bingley, U.K. Emerald Publishing Limited 2023 ©2023 1 Online-Ressource (332 Seiten) txt c cr International symposia in economic theory and econometrics 32 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. Young, Warren Erscheint auch als Druck-Ausgabe 9781837530526 Erscheint auch als Druck-Ausgabe 9781837530533 |
| spellingShingle | Spear, Stephen E. Overlapping generations methods, models and morphology |
| title | Overlapping generations methods, models and morphology |
| title_auth | Overlapping generations methods, models and morphology |
| title_exact_search | Overlapping generations methods, models and morphology |
| title_full | Overlapping generations methods, models and morphology Stephen E. Spear (Carnegie Mellon University, USA) and Warren Young (Bar Ilan University, Israel) |
| title_fullStr | Overlapping generations methods, models and morphology Stephen E. Spear (Carnegie Mellon University, USA) and Warren Young (Bar Ilan University, Israel) |
| title_full_unstemmed | Overlapping generations methods, models and morphology Stephen E. Spear (Carnegie Mellon University, USA) and Warren Young (Bar Ilan University, Israel) |
| title_short | Overlapping generations |
| title_sort | overlapping generations methods models and morphology |
| title_sub | methods, models and morphology |
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