Stationary monetary equilibria with strictly increasing value functions and non-discrete money holdings distributions: An indeterminacy result

• 成果类型: Article
• 署名作者: Kamiya, Kazuya; Shimizu, Takashi
• 署名单位: University of Tokyo; Kansai University
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2011.05.012
• 发表日期: 2011
• 页码: 2140-2150
• 关键词: real indeterminacy; Random matching; money

摘要

In this paper, we present a search model with divisible money in which there exists a continuum of monetary equilibria with strictly increasing continuous value functions and with non-discrete money holdings distributions. (C) 2011 Elsevier Inc. All rights reserved.