The readings beginning with Monday, March 7 are the 3 papers from the reading list on Overlapping Generations. Samuelson’s JPE article is the classic. The Shell JPE article is the follow-up to Samuelson. The Shell-Smith survey is a good non-technical introduction to OG models for monetary economies. There are others.
The OG readings will not be tested on the Monday, March 19, Prelim #1.
- Karl Shell & Bruce Smith,“Overlapping-Generations Model and Monetary Economics,” in the New Palgrave Dictionary of Money and Finance (J. Eatwell & P. Newman, eds.) Vol 3, London, Macmillan, (1992) 104-109
- Paul A. Samuelson, “An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money,” Journal of Political Economy, (De- cember 1958) 467-482
- Karl Shell, “Notes on the Economics of Infinity,” Journal of Political Economy, Vol. 79(5), (September/October 1971) 1002-1011 Appears in Spanish as “Notas sobre las economias del infinite” (translation by M. Santos), Cuadernos Economics de I.C.E., Vol. (1), (1987) 31-39