A Frictionless Economy With Suboptimizing Agents

José Manuel Gutiérrez ()
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José Manuel Gutiérrez: https://econ.univie.ac.at

Vienna Economics Papers from University of Vienna, Department of Economics

Abstract: The existence of short-term monetary equilibrium in a frictionless economy with suboptimal agents is proved for any (reasonable) given interest rate. Separability ideas (as defined in Decision Theory) are applied. Two financial markets are in operation: for bank contracts (deposits and credits) and for shares.

JEL-codes: C62 D53 (search for similar items in EconPapers)
Date: 2008-08
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