5 papers · 1 filter
Selection of Efficient Monetary Equilibria Through Aggregate Real Savings-Based Taylor Rule
Leandro Lyra Braga Dognini
This paper uses the generalized Cass criterion to extend the results from Dognini (2026) re…
Depth Projections and the Local Nature of the Cass Criterion
Leandro Lyra Braga Dognini
This paper defines the depth projections of the indifference and offer hypersurfaces, and of the transformation frontier. These projections are functions conceived to measure curva…
The Design of Optimally Balanced Pay-as-you-go Social Security Systems
Leandro Lyra Braga Dognini
This paper bridges social security design and general equilibrium theory to conceive optimally balanced pay-as-you-go systems. The design is based on the backward calculation algor…
Stochastic Non-Tâtonnement Processes and the Attraction Principle
Leandro Lyra Braga Dognini
I introduce stochastic non-tâtonnement processes and argue that they are a natural outcome of general equilibrium theory. To this end, I revisit classical demand theory to define t…
Existence and Calculation of Optimal Monetary Equilibria on Overlapping Generations Economies
Leandro Lyra Braga Dognini
A well-known feature of overlapping generations economies is that the First Welfare Theorem fails and equilibrium may be inefficient. The Cass (1972) criterion furnishes a necessar…