On stationary overlapping generations models

Masahiro Okuno; Itzhak Zilcha

doi:10.1016/0165-1765(83)90025-3

On stationary overlapping generations models

Masahiro Okuno^*, Itzhak Zilcha

^*Corresponding author for this work

School of Economics

Research output: Contribution to journal › Article › peer-review

Abstract

Consider a stationary consumption-loan economy with fixed amount of fiat money. We show that although the economy is stationary if the number of goods and the number of 'types' of consumers are larger than one, there might be no Pareto optimal stationary competitive equilibrium.

Original language	English
Pages (from-to)	331-335
Number of pages	5
Journal	Economics Letters
Volume	11
Issue number	4
DOIs	https://doi.org/10.1016/0165-1765(83)90025-3
State	Published - 1983

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abstract = "Consider a stationary consumption-loan economy with fixed amount of fiat money. We show that although the economy is stationary if the number of goods and the number of 'types' of consumers are larger than one, there might be no Pareto optimal stationary competitive equilibrium.",

author = "Masahiro Okuno and Itzhak Zilcha",

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On stationary overlapping generations models

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