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Persistent link: https://www.econbiz.de/10005371092
Under take-it-or-leave-it offers, dynamic equilibria in the discrete time random matching model of money are a "translation" of dynamic equilibria in the standard overlapping generations model. This formalizes earlier conjectures about the equivalence of dynamic behavior in the two models and...
Persistent link: https://www.econbiz.de/10005596759
dynamics of economies with both frictions are qualitatively similar to their frictionless counterparts. Copyright Springer …
Persistent link: https://www.econbiz.de/10005753145
Money, which provides liquidity, is distinct from debt. The introduction of a bank that issues money in exchange for debt and pPolemarchakisays out its profit as dividend to shareholders modifies the model of overlapping generations. The set of equilibrium paths, their dynamic properties, as...
Persistent link: https://www.econbiz.de/10005753154
The paper studies the local dynamics of an endogenous growth model with externalities of investment. It is demonstrated …
Persistent link: https://www.econbiz.de/10005753236
with econometrics of systems of simultaneous equations. The local dynamics near steady states combine spectral properties …
Persistent link: https://www.econbiz.de/10005155356