Karatzas, Ioannis; Shubik, Martin; Sudderth, William D. - Cowles Foundation for Research in Economics, Yale University - 1995
We study stationary Markov equilibria for strategic, competitive games, in a market-economy model with one non-durable commodity, fiat money, borrowing/lending through a central bank or a money market, and a continuum of agents. These use fiat money in order to offset random fluctuations in...