EconPapers    
Economics at your fingertips  
 

Multiplicity of monetary steady states

Ryoji Hiraguchi and Keiichiro Kobayashi

Economics Letters, 2015, vol. 127, issue C, 93-96

Abstract: We investigate a monetary model in which the centralized market opens once, but the decentralized markets open twice in each period. We show that there may be multiple stationary equilibria.

Keywords: Multiple equilibria; Search; Bargaining (search for similar items in EconPapers)
JEL-codes: E1 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165176514004972
Full text for ScienceDirect subscribers only

Related works:
Working Paper: Multiplicity of monetary steady states (2014) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:127:y:2015:i:c:p:93-96

Access Statistics for this article

Economics Letters is currently edited by Economics Letters Editorial Office

More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

 
Page updated 2019-03-31
Handle: RePEc:eee:ecolet:v:127:y:2015:i:c:p:93-96