The Cagan schedule in an overlapping generations setting

Geoffrey H. Kingston*

*Corresponding author for this work

Research output: Contribution to journalArticle

Abstract

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
Volume15
Issue number1-2
DOIs
Publication statusPublished - 1984
Externally publishedYes

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