A uniqueness proof for monetary steady state

DOI10.1016/J.JET.2009.11.004MaRDI QIDQ848624zbMATHOpenAlexFDO

Authors Randall Wright

Publication date 4 March 2010

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

Full work available at URL https://doi.org/10.1016/j.jet.2009.11.004

zbMATH Keywords

uniquenessmonetary equilibrium

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Special types of economic equilibria (91B52)

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Cites work

• A Divisible Search Model of Fiat Money
• Asset Prices in an Exchange Economy
• Bank Runs, Deposit Insurance, and Liquidity
• Contagion Equilibria in a Monetary Model
• Directed Matching and Monetary Exchange
• Dynamics, cycles, and sunspot equilibria in `genuinely dynamic, fundamentally disaggregative' models of money.
• General equilibrium with nonconvexities and money
• Information, liquidity, asset prices, and monetary policy
• Money and capital as competing media of exchange
• Money and prices: A model of search and bargaining
• Money in Search Equilibrium, in Competitive Equilibrium, and in Competitive Search Equilibrium
• Money is memory
• Money, credit and banking
• Monotone Comparative Statics
• Optimal fiscal and monetary policy when money is essential
• Search and the market for ideas
• Stationarity without degeneracy in a model of commodity money

Cited in

(17)

• Innovation and growth with financial, and other, frictions
• Trejos-Wright with a 2-unit bound: existence and stability of monetary steady states
• Unique monetary equilibrium with inflation in a stationary Bewley-Aiyagari model
• Monetary mechanisms
• Marriage, markets, and money: a Coasian theory of household formation
• The uniqueness of steady-state equilibrium under state-dependent pricing: the case of deflation
• scientific article; zbMATH DE number 2072555 (Why is no real title available?)
• Money and price posting under private information
• On the multiplicity of monetary equilibria: Green-Zhou meets Lagos-Wright
• Search and the market for ideas
• Nominal uniqueness and money non-neutrality in the limit-price exchange process
• Degreasing the wheels of finance
• On default and uniqueness of monetary equilibria
• Multiplicity of monetary steady states
• Revisiting multiplicity of bubble equilibria in a search model with posted prices
• Optimal monetary policy in an overlapping generations model with search theoretic monetary exchange
• Endogenous search, price dispersion, and welfare

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