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Line 12: ==Basic model== [[File:OLG model- Generation.png\|thumb\|Generational Shifts in OLG ~~Model~~Models]] The most basic OLG model has the following characteristics:<ref name="LjungqvistSargent2004">{{cite book\|author1=Lars Ljungqvist\|author2=Thomas J. Sargent\|title=Recursive Macroeconomic Theory\|accessdate=13 May 2012\|date=1 September 2004\|publisher=MIT Press\|isbn=978-0-262-12274-0\|pages = 264–267}}</ref> *Individuals live for '''two''' periods; in the first period of life, they are referred to as the '''Young'''. In the second period of life, they are referred to as the '''Old'''.

Overlapping generations model: Difference between revisions