This note provides a direct proof of the fact that in a particular version of the overlapping generations model with long-lived agents and fiat money, there can be at most two stationary states. A simple argument showing the Pareto superiority of the low inflation steady state is also given.

STEADY STATES IN THE OLG MODEL WITH SEIGNORAGE AND LONG-LIVED AGENTS / D. COLUCCI. - In: RESEARCH IN ECONOMICS. - ISSN 1090-9443. - STAMPA. - 57(2003), pp. 371-381. [10.1016/j.rie.2003.08.003]

STEADY STATES IN THE OLG MODEL WITH SEIGNORAGE AND LONG-LIVED AGENTS.

COLUCCI, DOMENICO
2003

Abstract

This note provides a direct proof of the fact that in a particular version of the overlapping generations model with long-lived agents and fiat money, there can be at most two stationary states. A simple argument showing the Pareto superiority of the low inflation steady state is also given.
57
371
381
D. COLUCCI
File in questo prodotto:
Non ci sono file associati a questo prodotto.

I documenti in FLORE sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/2158/1593
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus 2
  • ???jsp.display-item.citation.isi??? ND
social impact