Equilibrium paths in an economy of overlapping generations are determinate. Time is either discrete or continuous; in either case, it extend into the infinite future and, possibly, the infinite past. There is one, nonstorable commodity at each date. The economy is stationary; intertemporal...

In an economy with a non-atomic measure space of assets and exchangeable risks, the Arbitrage Pricing Theory (APT) holds exactly; and factors are structurally specified, which allows for an economic interpretation.