Showing 1 - 10 of 16
Money, which provides liquidity, is distinct from debt. The introduction of a bank that issues money in exchange for debt and pays out its profit as dividend to shareholders modifies the model of overlapping generations. Monetary policy can set, alternatively, the nominal rate of interest or the...
Persistent link: https://www.econbiz.de/10010318857
Persistent link: https://www.econbiz.de/10001514938
Persistent link: https://www.econbiz.de/10001467013
Persistent link: https://www.econbiz.de/10001328992
Persistent link: https://www.econbiz.de/10001589511
Persistent link: https://www.econbiz.de/10001408410
Persistent link: https://www.econbiz.de/10002643601
Persistent link: https://www.econbiz.de/10002141894
Persistent link: https://www.econbiz.de/10002208404
Equilibrium paths in economies of overlapping generations depend on the frequency of trade. In a standard example, determinacy obtains as the frequency of trades tends to infinity or trade occurs in continuous time. If time extends infinitely into the infinite past as well as into the infinite...
Persistent link: https://www.econbiz.de/10014109561