The Cagan schedule in an overlapping generations setting

Geoffrey H. Kingston*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review


Cagan's portfolio balance schedule under rational expectations is generated by an overlapping generations model. Tenuousness of the equilibrium described by Cagan's schedule can be interpreted as following from a requirement that the old generation be risk neutral.

Original languageEnglish
Pages (from-to)41-45
Number of pages5
JournalEconomics Letters
Issue number1-2
Publication statusPublished - 1984
Externally publishedYes


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