The role of money in supporting the Pareto optimality of competitive equilibrium in consumption-loan type models

DOI10.1016/0022-0531(79)90062-0MaRDI QIDQ1255429zbMATH OpenOpenAlexFDO

Authors David Cass, Masahiro Okuno, Itzhak Zilcha

Publication date 1979

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL https://resolver.caltech.edu/CaltechAUTHORS:20171018-152338140

zbMATH Keywords

Competitive EquilibriumConsumption- Loan Type ModelsPareto OptimalityRobustnessRole of Money

Mathematics Subject Classification ID

Trade models (91B60)

Cites work

• Capital Accumulation and Efficient Allocation of Resources
• Excess demand functions
• scientific article; zbMATH DE number 3487161 (Why is no real title available?)
• scientific article; zbMATH DE number 3068856 (Why is no real title available?)
• Market Excess Demand Functions
• VALUATION EQUILIBRIUM AND PARETO OPTIMUM

Cited in

(27)

• Optimal steady-state in stationary consumption-loan type models
• A characterization of the core in overlapping-generations economies
• Inactive transfer policies and efficiency in general overlapping- generations economies
• On the existence of sunspot equilibria in an overlapping generations model
• Equilibria in exchange economies with a countable number of agents
• Chaotic dynamics in a cash-in-advance economy
• The overlapping-generations model. I: The case of pure exchange without money
• The overlapping-generations model. II. The case of pure exchange with money
• Informational diversity over time and optimality of monetary equilibria
• Characterizing efficiency in stochastic overlapping generations models
• The connectedness of the set of equilibrium money prices depends on the choice of the numeraire
• Sunpsots and cycles \(reconsidered^{1}\)
• Monetary equilibrium in an overlapping generations model with productive capital
• Intrinsic bubbles and asset price volatility
• Habit persistence in overlapping generations economies under pure exchange
• The household fallacy
• Existence of a Pareto-optimal equilibrium in nearly-stationary overlapping-generations economies
• On learning and rational expectations in an overlapping generations model
• Balanced equilibrium in a consumption loans model
• Chaotic learning equilibria
• Offer curves and uniqueness of competitive equilibrium
• Non-computable rational expectations equilibria
• Habit formation and indeterminacy in overlapping generations models
• QUASI-LINEAR UTILITY FUNCTIONS AND THE DYNAMICS OF PURE EXCHANGE OVERLAPPING GENERATIONS MODELS
• Optimality of Stationary Asset Equilibria Under A Stochastic Inflation Tax
• Non-connectedness of the set of equilibrium money prices: The static economy
• Dynamic efficiency in overlapping generations models with stochastic production

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