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]
Titolo: | STEADY STATES IN THE OLG MODEL WITH SEIGNORAGE AND LONG-LIVED AGENTS. | |
Autori di Ateneo: | ||
Autori: | COLUCCI, DOMENICO | |
Data di pubblicazione: | 2003 | |
Rivista: | ||
Volume: | 57 | |
Pagina iniziale: | 371 | |
Pagina finale: | 381 | |
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. | |
Handle: | http://hdl.handle.net/2158/1593 | |
Appare nelle tipologie: | 1a - Articolo su rivista |
File in questo prodotto:
Non ci sono file associati a questo prodotto.
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.