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A Note on the Core of a Monetary Economy

Eric O'Neill Fisher
California Polytechnic State University, San Luis Obispo - Orfalea College of Business

Abstract:
This note shows that there are monetary equilibria in the model of overlapping generations that are in the core. Some equilibria have positive stocks of outside money in every generation. These equilibria are thus self-enforcing, and introducing money into an economy need not be tantamount to contriving a new social institution designed to enforce sequential contracts.

JEL Classifications: E40, E60, C71

Working Paper Series

Date posted: July 08, 1997 ; Last revised: January 30, 1998

Suggested Citation

Fisher, Eric O'Neill, A Note on the Core of a Monetary Economy. Available at SSRN: http://ssrn.com/abstract=29339 or doi:10.2139/ssrn.29339

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Contact Information

Eric O'Neill Fisher (Contact Author)

California Polytechnic State University, San Luis Obispo - Orfalea College of Business ( email )

San Luis Obispo, CA 93407
United States