The political economy of overlapping generations
By: John Bryant
Series: Staff report -- # 43; Staff report (Federal Reserve Bank of Minneapolis. Research Department : Online) -- 43.
Publisher: Federal Reserve Bank of Minneapolis
Published: 1979
Place of publication: Minneapolis, Minn.]
Language: eng
Format: [electronic resource] /
Subjects: Monetary supply; Mathematical models; Foreign exchange futures; Stochastic analysis
Description: "The formation and maintenance of the institutions of money and a futures market are analyzed in an overlapping generations model with a first period.  With money and a futures market the economy converges to the allocation where costly transactions are foregone and marginal products and marginal utilities equated.  However, neither institution may be formed, or money may be formed without a futures market.  Moreover, stochastic output technologies raise the possibility of persistent recession and depression and of valuable government insurance of the futures market"--Federal Reserve Bank of Minneapolis web site.
Notes: Title from PDF file as viewed on 10/16/2007.

Includes bibliographical references.

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