Article ID Journal Published Year Pages File Type
956828 Journal of Economic Theory 2011 11 Pages PDF
Abstract

In this paper, we present a search model with divisible money in which there exists a continuum of monetary equilibria with strictly increasing continuous value functions and with non-discrete money holdings distributions.

Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
Stationary monetary equilibria with strictly increasing value functions and non-discrete money holdings distributions: An indeterminacy result
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