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A Characterization of Inefficiency in Stochastic Overlapping Generations Economies

Bloise, Gaetano et al.
Munich Personal RePEc Archive · Reports
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In this paper, we provide a characterization of interim inefficiency in stochastic economies of overlapping generations under possibly sequentially incomplete markets. With respect to the established body of results in the literature, we remove the hypothesis of two-period horizons, by considering l
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