Details about S. Rao Aiyagari

This author is deceased (1997-05-20).

Access statistics for papers by S. Rao Aiyagari.

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Short-id: pai4

Working Papers

2005

1. Looking Back: Marriage, Divorce and Out-of-Wedlock Births
   RCER Working Papers, University of Rochester - Center for Economic Research (RCER) View citations (1)

2001

2. Efficient Investment in Children
   RCER Working Papers, University of Rochester - Center for Economic Research (RCER) View citations (2)
   Also in Working Papers (Old Series), Federal Reserve Bank of Cleveland (2001) View citations (2)
   Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1999) View citations (5)
   See also Journal Article Efficient Investment in Children, Journal of Economic Theory, Elsevier (2002) View citations (67) (2002)

1999

3. On the State of the Union
   RCER Working Papers, University of Rochester - Center for Economic Research (RCER) View citations (22)
   See also Journal Article On the State of the Union, Journal of Political Economy, University of Chicago Press (2000) View citations (128) (2000)

1998

4. "Overreaction" of Asset Prices in General Equilibrium
   Working Papers, C.V. Starr Center for Applied Economics, New York University View citations (8)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (1998) View citations (7)
   See also Journal Article "Overreaction" of Asset Prices in General Equilibrium, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (1999) View citations (97) (1999)
5. Money and Dynamic Credit Arrangements with Private Information
   Game Theory and Information, University Library of Munich, Germany View citations (1)
   Also in Working Papers, University of Iowa, Department of Economics (1997) View citations (1)
   Working Papers (Old Series), Federal Reserve Bank of Cleveland (1998) View citations (2)
   See also Journal Article Money and Dynamic Credit Arrangements with Private Information, Journal of Economic Theory, Elsevier (2000) View citations (80) (2000)
6. Money, Credit, and Allocation Under Complete Dynamic Contracts and Incomplete Markets
   Game Theory and Information, University Library of Munich, Germany
   Also in Working Papers, University of Iowa, Department of Economics (1997) View citations (1)
7. Transaction services, inflation, and welfare
   Staff Report, Federal Reserve Bank of Minneapolis View citations (61)
   Also in Working Papers, Federal Reserve Bank of Minneapolis (1995) View citations (3)
   Working Papers, Tel Aviv - the Sackler Institute of Economic Studies (1995) View citations (12)
   See also Journal Article Transaction Services, Inflation, and Welfare, Journal of Political Economy, University of Chicago Press (1998) View citations (78) (1998)

1997

8. Asset Returns with transaction costs and uninsured individual risk
   Levine's Working Paper Archive, David K. Levine View citations (7)
   See also Journal Article Asset returns with transactions costs and uninsured individual risk, Journal of Monetary Economics, Elsevier (1991) View citations (197) (1991)
9. Credit in a Random Matching Model With Private Information
   Game Theory and Information, University Library of Munich, Germany View citations (11)
   Also in Working Papers, University of Iowa, Department of Economics (1997) View citations (13)
   See also Journal Article Credit in a Random Matching Model with Private Information, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (1999) View citations (22) (1999)
10. The optimum quantity of debt
    Staff Report, Federal Reserve Bank of Minneapolis View citations (4)
    Also in Working Papers, Federal Reserve Bank of Minneapolis (1994) View citations (6)
    See also Journal Article The optimum quantity of debt, Journal of Monetary Economics, Elsevier (1998) View citations (317) (1998)

1996

11. Coexistence of money and interest-bearing securities
    Working Papers, Federal Reserve Bank of Minneapolis View citations (75)
    See also Journal Article Coexistence of money and interest-bearing securities, Journal of Monetary Economics, Elsevier (1996) View citations (80) (1996)
12. Some explorations into optimal cyclical monetary policy
    Working Papers, Federal Reserve Bank of Minneapolis View citations (2)

1995

13. Comments on Farmer and Guo's \"The econometrics of indeterminacy: an applied study.\"
    Working Papers, Federal Reserve Bank of Minneapolis View citations (3)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1995) View citations (5)
14. Government transaction policy, the medium of exchange, and welfare
    Working Papers, Federal Reserve Bank of Minneapolis View citations (2)
    See also Journal Article Government Transaction Policy, the Medium of Exchange, and Welfare, Journal of Economic Theory, Elsevier (1997) View citations (40) (1997)
15. Interpreting monetary stabilization in a growth model with credit goods production
    Working Papers, Federal Reserve Bank of Minneapolis View citations (5)
    Also in Foerder Institute for Economic Research Working Papers, Tel-Aviv University > Foerder Institute for Economic Research (1994) View citations (3)
16. Social insurance and taxation under sequential majority voting and utilitarian regimes
    Staff Report, Federal Reserve Bank of Minneapolis View citations (13)
    See also Journal Article Social insurance and taxation under sequential majority voting and utilitarian regimes, Journal of Economic Dynamics and Control, Elsevier (1995) View citations (14) (1995)

1994

17. Optimal capital income taxation with incomplete markets, borrowing constraints, and constant discounting
    Working Papers, Federal Reserve Bank of Minneapolis View citations (1)
    See also Journal Article Optimal Capital Income Taxation with Incomplete Markets, Borrowing Constraints, and Constant Discounting, Journal of Political Economy, University of Chicago Press (1995) View citations (297) (1995)

1993

18. Uninsured idiosyncratic risk and aggregate saving
    Working Papers, Federal Reserve Bank of Minneapolis View citations (49)
    See also Journal Article Uninsured Idiosyncratic Risk and Aggregate Saving, The Quarterly Journal of Economics, President and Fellows of Harvard College (1994) View citations (2171) (1994)

1992

19. Inequality and Capital Accumulation under Majority Voting Taxation
    University of Western Ontario, Departmental Research Report Series, University of Western Ontario, Department of Economics

1991

20. Existence of steady states with positive consumption in the Kiyotaki-Wright model
    Working Papers, Federal Reserve Bank of Minneapolis View citations (56)
    See also Journal Article Existence of Steady States with Positive Consumption in the Kiyotaki-Wright Model, The Review of Economic Studies, Review of Economic Studies Ltd (1991) View citations (65) (1991)
21. Optimal Capital Income Taxation and Long Run Debt with Borrowing Constraints
    University of Western Ontario, Departmental Research Report Series, University of Western Ontario, Department of Economics View citations (5)
    Also in University of Western Ontario, The Centre for the Study of International Economic Relations Working Papers, University of Western Ontario, The Centre for the Study of International Economic Relations (1991) View citations (2)
22. Walras' Law and nonoptimal equilibria in overlapping generations models
    Working Papers, Federal Reserve Bank of Minneapolis
    See also Journal Article Walras' Law and nonoptimal equilibria in overlapping generations models, Journal of Mathematical Economics, Elsevier (1992) View citations (1) (1992)

1990

23. ASSET RETURNS WITH TRANSACTIONS COSTS AND UNINSURED INDIVIDUAL RISK: A STAGE III EXERCISE
    Working Papers, C.V. Starr Center for Applied Economics, New York University View citations (3)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1990) View citations (1)
    See also Journal Article Asset returns with transactions costs and uninsured individual risk, Journal of Monetary Economics, Elsevier (1991) View citations (197) (1991)
24. The Output, Employment, and Interest Rate Effects of Government Consumption
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (28)
    Also in Working Papers, Federal Reserve Bank of Minneapolis (1990) View citations (21)
    Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1990) View citations (31)
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1990) View citations (40)
    See also Journal Article The output, employment, and interest rate effects of government consumption, Journal of Monetary Economics, Elsevier (1992) View citations (175) (1992)

1988

25. Banking panics, information, and rational expectations equilibrium
    Working Papers, Federal Reserve Bank of Minneapolis View citations (42)
26. Can there be short-period deterministic cycles when people are long lived?
    Staff Report, Federal Reserve Bank of Minneapolis View citations (9)
    See also Journal Article Can There Be Short-Period Deterministic Cycles When People Are Long Lived?, The Quarterly Journal of Economics, President and Fellows of Harvard College (1989) View citations (23) (1989)

1987

27. Equilibrium existence in an overlapping generations model with altruistic preferences
    Working Papers, Federal Reserve Bank of Minneapolis
    See also Journal Article Equilibrium existence in an overlapping generations model with altruistic preferences, Journal of Economic Theory, Elsevier (1989) View citations (11) (1989)
28. Nonmonetary steady states in stationary overlapping generations models with long lived agents and discounting: multiplicity, optimality, and consumption smoothing
    Working Papers, Federal Reserve Bank of Minneapolis
    See also Journal Article Nonmonetary steady states in stationary overlapping generations models with long lived agents and discounting: Multiplicity, optimality, and consumption smoothing, Journal of Economic Theory, Elsevier (1988) View citations (8) (1988)

1986

29. Optimality and monetary equilibria in stationary overlapping generations models with long lived agents: growth versus discounting
    Working Papers, Federal Reserve Bank of Minneapolis
    See also Journal Article Optimality and monetary equilibria in stationary overlapping generations models with long-lived agents: Growth versus discounting, Journal of Economic Theory, Elsevier (1987) View citations (5) (1987)

Journal Articles

2003

1. The Optimum Quantity of Debt: Technical Appendix
   Annals of Economics and Finance, 2003, 4, (1), 193-217 View citations (5)

2002

2. Efficient Investment in Children
   Journal of Economic Theory, 2002, 102, (2), 290-321 View citations (67)
   See also Working Paper Efficient Investment in Children, RCER Working Papers (2001) View citations (2) (2001)
3. Optimal Taxation without State-Contingent Debt
   Journal of Political Economy, 2002, 110, (6), 1220-1254 View citations (374)

2000

4. Money and Dynamic Credit Arrangements with Private Information
   Journal of Economic Theory, 2000, 91, (2), 248-279 View citations (80)
   See also Working Paper Money and Dynamic Credit Arrangements with Private Information, Game Theory and Information (1998) View citations (1) (1998)
5. On the State of the Union
   Journal of Political Economy, 2000, 108, (2), 213-244 View citations (128)
   See also Working Paper On the State of the Union, RCER Working Papers (1999) View citations (22) (1999)

1999

6. "Overreaction" of Asset Prices in General Equilibrium
   Review of Economic Dynamics, 1999, 2, (1), 3-35 View citations (97)
   See also Working Paper "Overreaction" of Asset Prices in General Equilibrium, Working Papers (1998) View citations (8) (1998)
7. Credit in a Random Matching Model with Private Information
   Review of Economic Dynamics, 1999, 2, (1), 36-64 View citations (22)
   See also Working Paper Credit in a Random Matching Model With Private Information, Game Theory and Information (1997) View citations (11) (1997)

1998

8. Some models to guide monetary policymakers
   Carnegie-Rochester Conference Series on Public Policy, 1998, 48, (1), 1-42 View citations (6)
9. The optimum quantity of debt
   Journal of Monetary Economics, 1998, 42, (3), 447-469 View citations (317)
   See also Working Paper The optimum quantity of debt, Staff Report (1997) View citations (4) (1997)
10. Transaction Services, Inflation, and Welfare
    Journal of Political Economy, 1998, 106, (6), 1274-1301 View citations (78)
    See also Working Paper Transaction services, inflation, and welfare, Staff Report (1998) View citations (61) (1998)

1997

11. Government Transaction Policy, the Medium of Exchange, and Welfare
    Journal of Economic Theory, 1997, 74, (1), 1-18 View citations (40)
    See also Working Paper Government transaction policy, the medium of exchange, and welfare, Working Papers (1995) View citations (2) (1995)

1996

12. Coexistence of money and interest-bearing securities
    Journal of Monetary Economics, 1996, 37, (3), 397-419 View citations (80)
    See also Working Paper Coexistence of money and interest-bearing securities, Working Papers (1996) View citations (75) (1996)

1995

13. Optimal Capital Income Taxation with Incomplete Markets, Borrowing Constraints, and Constant Discounting
    Journal of Political Economy, 1995, 103, (6), 1158-75 View citations (297)
    See also Working Paper Optimal capital income taxation with incomplete markets, borrowing constraints, and constant discounting, Working Papers (1994) View citations (1) (1994)
14. Social insurance and taxation under sequential majority voting and utilitarian regimes
    Journal of Economic Dynamics and Control, 1995, 19, (8), 1511-1528 View citations (14)
    See also Working Paper Social insurance and taxation under sequential majority voting and utilitarian regimes, Staff Report (1995) View citations (13) (1995)

1994

15. Frictions in asset pricing and macroeconomics
    European Economic Review, 1994, 38, (3-4), 932-939 View citations (2)
16. Macroeconomics with frictions
    Quarterly Review, 1994, 18, (Sum), 24-40 View citations (6)
17. On the contribution of technology shocks to business cycles
    Quarterly Review, 1994, 18, (Win), 22-34 View citations (23)
18. Uninsured Idiosyncratic Risk and Aggregate Saving
    The Quarterly Journal of Economics, 1994, 109, (3), 659-684 View citations (2171)
    See also Working Paper Uninsured idiosyncratic risk and aggregate saving, Working Papers (1993) View citations (49) (1993)

1993

19. Explaining financial market facts: the importance of incomplete markets and transaction costs
    Quarterly Review, 1993, 17, (Win), 17-31 View citations (16)

1992

20. Co-existence of a representative agent type equilibrium with a non-representative agent type equilibrium
    Journal of Economic Theory, 1992, 57, (1), 230-236 View citations (15)
21. Fiat Money in the Kiyotaki-Wright Model
    Economic Theory, 1992, 2, (4), 447-64 View citations (32)
22. The output, employment, and interest rate effects of government consumption
    Journal of Monetary Economics, 1992, 30, (1), 73-86 View citations (175)
    See also Working Paper The Output, Employment, and Interest Rate Effects of Government Consumption, NBER Working Papers (1990) View citations (28) (1990)
23. Walras' Law and nonoptimal equilibria in overlapping generations models
    Journal of Mathematical Economics, 1992, 21, (4), 343-361 View citations (1)
    See also Working Paper Walras' Law and nonoptimal equilibria in overlapping generations models, Working Papers (1991) (1991)

1991

24. Asset returns with transactions costs and uninsured individual risk
    Journal of Monetary Economics, 1991, 27, (3), 311-331 View citations (197)
    See also Working Paper Asset Returns with transaction costs and uninsured individual risk, Levine's Working Paper Archive (1997) View citations (7) (1997)
    Working Paper ASSET RETURNS WITH TRANSACTIONS COSTS AND UNINSURED INDIVIDUAL RISK: A STAGE III EXERCISE, Working Papers (1990) View citations (3) (1990)
25. Dominant root characterization of Pareto optimality and the existence of optimal equilibria in stochastic overlapping generations models
    Journal of Economic Theory, 1991, 54, (1), 69-83 View citations (67)
26. Existence of Steady States with Positive Consumption in the Kiyotaki-Wright Model
    The Review of Economic Studies, 1991, 58, (5), 901-916 View citations (65)
    See also Working Paper Existence of steady states with positive consumption in the Kiyotaki-Wright model, Working Papers (1991) View citations (56) (1991)
27. Response to a defense of zero inflation
    Quarterly Review, 1991, 15, (Spr), 21-24 View citations (1)

1990

28. Deflating the case for zero inflation
    Quarterly Review, 1990, 14, (Sum), 2-11 View citations (14)

1989

29. Can There Be Short-Period Deterministic Cycles When People Are Long Lived?
    The Quarterly Journal of Economics, 1989, 104, (1), 163-185 View citations (23)
    See also Working Paper Can there be short-period deterministic cycles when people are long lived?, Staff Report (1988) View citations (9) (1988)
30. Equilibrium existence in an overlapping generations model with altruistic preferences
    Journal of Economic Theory, 1989, 47, (1), 130-152 View citations (11)
    See also Working Paper Equilibrium existence in an overlapping generations model with altruistic preferences, Working Papers (1987) (1987)
31. Gresham's Law in a Lemons Market for Assets
    Canadian Journal of Economics, 1989, 22, (3), 686-97 View citations (8)
32. How should taxes be set?
    Quarterly Review, 1989, 13, (Win), 22-32 View citations (1)

1988

33. Economic fluctuations without shocks to fundamentals; or, does the stock market dance to its own music?
    Quarterly Review, 1988, 12, (Win), 8-24 View citations (5)
34. Nonmonetary steady states in stationary overlapping generations models with long lived agents and discounting: Multiplicity, optimality, and consumption smoothing
    Journal of Economic Theory, 1988, 45, (1), 102-127 View citations (8)
    See also Working Paper Nonmonetary steady states in stationary overlapping generations models with long lived agents and discounting: multiplicity, optimality, and consumption smoothing, Working Papers (1987) (1987)

1987

35. Intergenerational linkages and government budget policies
    Quarterly Review, 1987, 11, (Spr), 14-23 View citations (1)
36. Optimality and monetary equilibria in stationary overlapping generations models with long-lived agents: Growth versus discounting
    Journal of Economic Theory, 1987, 43, (2), 292-313 View citations (5)
    See also Working Paper Optimality and monetary equilibria in stationary overlapping generations models with long lived agents: growth versus discounting, Working Papers (1986) (1986)

1985

37. Deficits, interest rates, and the tax distribution
    Quarterly Review, 1985, 9, (Win)
38. Observational equivalence of the overlapping generations and the discounted dynamic programming frameworks for one-sector growth
    Journal of Economic Theory, 1985, 35, (2), 201-221 View citations (14)
39. The backing of government bonds and monetarism
    Journal of Monetary Economics, 1985, 16, (1), 19-44 View citations (93)