The Price for the Widow's Cruse: Or the Value of an Infinitely Productive Asset

Martin Shubik

No 959, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: This paper considers two basic problems: The first is the necessity for introducing government money (as contrasted with individual credit) and an infinitely lived government in an overlapping generations economy. The second concerns the evaluation of the price of an infinitely productive asset in an economy without a natural discount factor.

Pages: 6 pages
Date: 1990-10
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