A Two-Sector Overlapping-Generations Model: A Global Characterization of the Dynamical System
构建了一个两部门世代交叠模型，全局刻画了动力系统，并给出了存在全局唯一完美预见均衡的充分条件，为多维商品空间的动态分析提供了框架。
This paper develops a two-sector overlapping-generations model. It characterizes the dynamical system globally and establishes sufficient conditions for the existence of a globally unique perfect-foresight equilibrium. It provides, therefore, a useful framework for global dynamic analysis of phenomena whose modeling requires a multidimensional commodity space. The analysis demonstrates that gross substitutability in consumption is not sufficient for the determinacy of equilibrium in this production economy. However, if in addition the investment good is capital intensive and second period consumption of two-period-lived individuals is a normal good, then the perfect-foresight equilibrium is globally unique. Copyright 1992 by The Econometric Society.