Assenza, Tiziana; Agliari, Anna; Delli Gatti, Domenico; … - In: Journal of Economic Behavior & Organization 72 (2009) 2, pp. 656-669
In this paper we model an OLG economy à la Kiyotaki and Moore whose novel feature is the role of money as a store of value and of bequest as a source of funds to be "invested" in landholding. The dynamics generated by the model are generally characterized by irregular cyclical trajectories and,...