Please use this identifier to cite or link to this item:
http://hdl.handle.net/20.500.11889/5389
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Ismael, Mohanad | |
dc.date.accessioned | 2018-03-07T10:38:23Z | |
dc.date.available | 2018-03-07T10:38:23Z | |
dc.date.issued | 2017 | |
dc.identifier.uri | http://hdl.handle.net/20.500.11889/5389 | |
dc.description.abstract | We study the stability properties of a Diamond (1965) overlapping generations model in which agents have to pay transaction costs related to the capital accumulated. In particular, these costs depend positively on the amount of individual.s savings. At .rst, we show that under standard conditions, the feasible path may be dynamically inefficient (efficient) if there is an over-accumulation (under-accumulation) of capital with respect to Golden Rule. Namely, the introduction of transaction costs reduces the Golden Rule level of saving comparing to the standard model. It is also shown that the stationary equilibrium is determinate. Further, transaction costs promote the emergence of cycles of period two and therefore acts as a destabilizing factor. The analytical findings are completed by a numerical example. | en_US |
dc.language.iso | en_US | en_US |
dc.publisher | Nottingham Trent University | en_US |
dc.relation.ispartofseries | Volume 22; | |
dc.subject | Overlapping | en_US |
dc.subject | determinacy | en_US |
dc.subject | Cycles of period two | en_US |
dc.subject | Finance - Mathematical models | en_US |
dc.title | Transaction costs in an overlapping generations model | en_US |
dc.type | Article | en_US |
newfileds.department | Business and Economics | en_US |
newfileds.item-access-type | open_access | en_US |
newfileds.thesis-prog | none | en_US |
newfileds.general-subject | Social Sciences | العلوم الإنسانية | en_US |
item.languageiso639-1 | other | - |
item.fulltext | With Fulltext | - |
item.grantfulltext | open | - |
Appears in Collections: | Public Relations |
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File | Description | Size | Format | |
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Ismael 2017.pdf | 674.61 kB | Adobe PDF | View/Open |
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