Shubik, Martin; Yao, Shuntian - Cowles Foundation for Research in Economics, Yale University - 1989
In a previous paper (Shubik and Yao, 1988) we examined a multistage exchange economy with m perishable goods and one infinitely durable gold used as money. We considered an economy without credit and one with one hundred percent secured loans. In this paper we consider an economy with m(1) goods...