Multiplicity of monetary steady states

被引：0
|
作者：
Hiraguchi, Ryoji [1 ]
Kobayashi, Keiichiro [2 ]
机构：
[1] Chiba Univ, Fac Law & Econ, Inage Ku, Chiba, Japan
[2] Keio Univ, Fac Econ, Minato Ku, Tokyo, Japan
来源：
ECONOMICS LETTERS | 2015年 / 127卷
关键词：
Multiple equilibria; Search; Bargaining; MONEY;
D O I：
10.1016/j.econlet.2014.12.036
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We investigate a monetary model in which the centralized market opens once, but the decentralized markets open twice in each period. We show that there may be multiple stationary equilibria. (C) 2015 Elsevier B.V. All rights reserved.
引用
收藏
页码：93 / 96
页数：4
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