A note on the core of a monetary economy
成果类型：
Article
署名作者：
Fisher, EO
刊物名称：
JOURNAL OF ECONOMIC THEORY
ISSN/ISSBN：
0022-0531
DOI：
10.1006/jeth.1996.2264
发表日期：
1997
页码：
425-434
关键词：
摘要：
This note shows that there are monetary equilibria in the model of overlapping generations that are in the core. Some equilibria have positive stocks of outside money in every generation. These equilibria are thus self-enforcing, and introducing money into an economy need not be tantamount to contriving a new social institution designed to enforce sequential contracts. (C) 1997 Academic Press.