Indeterminacy in a monetary economy with heterogeneous agents

Katsuhiko Hori
Authors registered in the RePEc Author Service: 堀 勝彦 ()

MPRA Paper from University Library of Munich, Germany

Abstract: In this study, we discuss a connection between heterogeneity of agents and indeterminacy of equilibria in a standard money-in-the-utility function model. Contrary to ealier studies, which mainly concern indeterminacy in connection with monetary policy or preferences of a single agent, we emphasize the role of heterogeneity of agents in indeterminacy.

Keywords: Heterogeneity; Indeterminacy; Money-in-the-utility function (search for similar items in EconPapers)
JEL-codes: C62 E32 (search for similar items in EconPapers)
Date: 2007-06-02
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