Duc, François and Ghiglino, Christian (1998) Optimality of Barter steady states. Journal of Economic Dynamics and Control, 22 (7). pp. 1053-1067. DOI https://doi.org/10.1016/s0165-1889(97)00100-0
Duc, François and Ghiglino, Christian (1998) Optimality of Barter steady states. Journal of Economic Dynamics and Control, 22 (7). pp. 1053-1067. DOI https://doi.org/10.1016/s0165-1889(97)00100-0
Duc, François and Ghiglino, Christian (1998) Optimality of Barter steady states. Journal of Economic Dynamics and Control, 22 (7). pp. 1053-1067. DOI https://doi.org/10.1016/s0165-1889(97)00100-0
Abstract
In the present paper, the issue of the existence of optimal barter steady states is addressed in a stationary overlapping generations model with many commodities and many different long-lived consumers. A general characterization of the individual endowments leading to an optimal barter steady state is obtained. The result, which is a generalization of Benveniste and Cass [Journal of Political Economy (1986) 94, 402-407], is obtained as a corollary of an unpublished result of Cass 1982 (unpublished manuscript).
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | overlapping generations; optimality; steady states; long-lived consumers |
| Subjects: | H Social Sciences > HB Economic Theory |
| Divisions: | Faculty of Social Sciences Faculty of Social Sciences > Economics, Department of |
| SWORD Depositor: | Unnamed user with email elements@essex.ac.uk |
| Depositing User: | Unnamed user with email elements@essex.ac.uk |
| Date Deposited: | 16 Jul 2012 17:58 |
| Last Modified: | 30 Oct 2024 20:34 |
| URI: | http://repository.essex.ac.uk/id/eprint/3027 |