In this paper, it is shown that real indeterminacy of stationary equilibria generically arises in most matching models with perfectly divisible media of exchange. In other words, the real indeterminacy follows from the condition for stationarity of holdings of media of exchange. Moreover, we present a new technique to prove the existence of stationary equilibria; especially, it is applicable to the case that both money and goods are perfectly divisible.
内容記述
Revised: June 2004.
本文フィルはリンク先を参照のこと
雑誌名
Discussion paper series. CIRJE-F
巻
2002-CF-167
発行年
2002-08
書誌レコードID
AA11450569
フォーマット
application/pdf
日本十進分類法
330
出版者
日本経済国際共同センター
出版者別名
Center for International Research on the Japanese Economy
Real Indeterminacy of Stationary Equilibria in Matching Models with Media of Exchange
