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The existence of short-term monetary equilibrium in a frictionless economy with suboptimal agents is proved for any (reasonable) given interest rate. Separability ideas (as defined in Decision Theory) are applied. Two financial markets are in operation: for bank contracts (deposits and credits)...
Persistent link: https://www.econbiz.de/10005622981
Three sequential models of consumption economies are considered, where consumers´only endowment is money. The existence and unicity of temporary equilibria, the neutrality of money and the validity of quantity theory are investigated. In the first two models "money" is persihable; in the second...
Persistent link: https://www.econbiz.de/10005623088
We provide existence results for equilibria of games where players employ abstract (non binary) choice rules. Such results are shown to encompass as a relevant instance that of games where players have (non-transitive) SSB (Skew-Symmetric Bilinear) preferences, as will as other well-known...
Persistent link: https://www.econbiz.de/10005623028