The Social Viability of Money: Competitive Equilibria and the Core of Overlapping Generations Economies

ISBN-13: 9783540546498 / Angielski / Miękka / 1991 / 202 str.

Joan Esteban

Opis

This work analyzes economies with overlapping generations from a game-theoretical point of view and studies the social acceptability of consumption allocations in infinite-horizon models of pure exchange economies with co-operative agents with finite lifetimes.

Spis treści

I Introduction.- 1 The Viability of Fiat Money.- II The Overlapping Generations Model of an Exchange Economy.- II Dynamic Efficiency.- III Competitive Equilibria in a Barter, Overlapping Generations Economy.- IV Monetary Equilibria.- III The Core in Overlapping Generations Economies.- V A Characterization of the Core.- VI Competitive Equilibria and the Core. One agent per generation.- VII Competitive Equilibria and the Core. Many agents per generation.- References.