A note on the existence of monetary equilibrium in a stochastic OLG model with a finite state space

The present paper provides a simple and complete proof of the existence of a stationary monetary equilibrium for a stochastic overlapping generations model with a finite state space. Differently from previous studies, we show that all the prices are positive without the Frobenius theorem.

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Year of publication:	2011
Authors:	Ohtaki, Eisei
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 31.2011, 1, p. 485-492
Publisher:	AccessEcon
Subject:	Stochastic overlapping generations model \| Stationary monetary equilibrium \| Existence \| Fixed-point theorem \| Frobenius theorem

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	E4 - Money and Interest Rates ; D5 - General Equilibrium and Disequilibrium
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008828626