BOSI, Stefano; CAZZAVILLAN, Guido; MAGRIS, Francesco - In: Annales d'Economie et de Statistique (2005) 78, pp. 103-115
We study a pure exchange economy with infinite-lived agents, in which a share of consumption purchases must be paid cash. The economy may exhibit multiple equilibria, no matter what the fundamental specification, the only requirement being a share of consumption to be paid cash sufficiently low....