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Abstract

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.



Item Type: MPRA Paper -

Original Title: Indeterminacy in a monetary economy with heterogeneous agents-

Language: English-

Keywords: Heterogeneity, Indeterminacy, Money-in-the-utility function-

Subjects: C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C62 - Existence and Stability Conditions of EquilibriumE - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations ; Cycles-





Autor: Hori, Katsuhiko

Fuente: https://mpra.ub.uni-muenchen.de/49316/



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