Resurrecting equilibria through cycles in an overlapping generations model of money
نویسندگان
چکیده
منابع مشابه
Regularity and Stability of Equilibria in an Overlapping Generations Model with Exogenous Growth Preliminary Draft
In an exogenous-growth economy with overlapping generations (OG) we analyse local stability of the balanced growth equilibria with respect to perturbations of consumption endowments, thought of as the “monetised” value of a government policy to individuals. We show that perturbed economies have a unique equilibium in the neighbourhood, that the equilibrium allocation expressed in terms of effic...
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ژورنال
عنوان ژورنال: Journal of Macroeconomics
سال: 2010
ISSN: 0164-0704
DOI: 10.1016/j.jmacro.2009.12.010