Efficiency and the Value of Money.

In a monetary model, it is shown that if there is a unique Pareto inefficient barter equilibrium, then a monetary equilibrium exists when traders are sufficiently patient. Copyright 1989 by The Review of Economic Studies Limited.

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Year of publication:	1989
Authors:	Levine, David K
Published in:	Review of Economic Studies. - Wiley Blackwell, ISSN 0034-6527. - Vol. 56.1989, 1, p. 77-88
Publisher:	Wiley Blackwell

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005312842