A NOTE ON THE EXISTENCE AND UNIQUENESS OF STATIONARY MONETARY EQUILIBRIUM IN A STOCHASTIC OLG MODEL

Eisei Ohtaki

Macroeconomic Dynamics, 2015, vol. 19, issue 3, 701-707

Abstract: This paper directly shows the equivalence between the existence of stationary monetary equilibrium and the conditional Pareto suboptimality of the initial endowment in a stochastic overlapping generations model. Especially, it gives short and constructive proofs for existence and uniqueness.

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:cup:macdyn:v:19:y:2015:i:03:p:701-707_00

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