Consumption-loan type models the Samuelson case

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This is a further study of the overlapping generations model with fixed amount of fiat money. We show that when the economy is Samuelsonian then there exists some Pareto optimal stationary competitive equilibrium from some initial money holdings. Moreover, if the steady-state interest factor is less than unity, then a non-monetary Pareto optimal equilibrium exists from any initial money endowments.

Original languageEnglish
Pages (from-to)201-205
Number of pages5
JournalEconomics Letters
Issue number3
StatePublished - 1981


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