Indeterminacy in a monetary economy with heterogeneous agents

In this study, we discuss a connection between heterogeneity of agents and indeterminacy of equilibria in a standard money-in-the-utility function model. Contrary to ealier studies, which mainly concern indeterminacy in connection with monetary policy or preferences of a single agent, we emphasize the role of heterogeneity of agents in indeterminacy.

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Year of publication:	2007-06-02
Authors:	Hori, Katsuhiko
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	Heterogeneity \| Indeterminacy \| Money-in-the-utility function

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	C62 - Existence and Stability Conditions of Equilibrium ; E32 - Business Fluctuations; Cycles
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011111032