The Money Rate of Interest and the Influence of Assets in a Multistage Economy with Gold or Paper Money: Part II

Martin Shubik and Shuntian Yao

No 1050, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: We consider the relationship between the length of life of individuals and the assets they own and their influence on trustless trade. In particular in some structures a role for government or an outside bank may be called for to support an equilibrium. An example of an OLG model with production illustrates the need for expanding the fiat money supply if population growth is greater than zero.

Pages: 32 pages
Date: 1993-06
Note: CFP 770.
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Published in Journal of Economics (1990), 52(1): 1-23

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Working Paper: The Money Rate of Interest and the Influence of Assets in a Multistage Economy with Gold or Paper Money: Part I (1993)
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