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On the Efficiency of a Competitive Equilibrium in Infinite Horizon Monetary Economies

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  • Masahiro Okuno
  • Itzhak Zilcha

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Suggested Citation

  • Masahiro Okuno & Itzhak Zilcha, 1980. "On the Efficiency of a Competitive Equilibrium in Infinite Horizon Monetary Economies," Review of Economic Studies, Oxford University Press, vol. 47(4), pages 797-807.
  • Handle: RePEc:oup:restud:v:47:y:1980:i:4:p:797-807.
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    File URL: http://hdl.handle.net/10.2307/2296945
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    Cited by:

    1. Bloise, Gaetano, 2008. "Efficiency and prices in economies of overlapping generations," Journal of Economic Theory, Elsevier, vol. 141(1), pages 200-224, July.
    2. Barbie, Martin & Hagedorn, Marcus & Kaul, Ashok, 2007. "On the interaction between risk sharing and capital accumulation in a stochastic OLG model with production," Journal of Economic Theory, Elsevier, vol. 137(1), pages 568-579, November.
    3. Rao Aiyagari, S., 1992. "Walras' Law and nonoptimal equilibria in overlapping generations models," Journal of Mathematical Economics, Elsevier, vol. 21(4), pages 343-361.
    4. Martin, Antoine & Schreft, Stacey L., 2006. "Currency competition: A partial vindication of Hayek," Journal of Monetary Economics, Elsevier, vol. 53(8), pages 2085-2111, November.
    5. Okuno, Masahiro, 1983. "The Burden of Debt and Intergenerational Distribution," Economic Review, Hitotsubashi University, vol. 34(3), pages 203-215, July.
    6. d'Albis, Hippolyte & Decreuse, Bruno, 2009. "Parental altruism, life expectancy and dynamically inefficient equilibria," Journal of Economic Dynamics and Control, Elsevier, vol. 33(11), pages 1897-1911, November.
    7. Chattopadhyay, Subir & Gottardi, Piero, 1999. "Stochastic OLG Models, Market Structure, and Optimality," Journal of Economic Theory, Elsevier, vol. 89(1), pages 21-67, November.
    8. Bloise, Gaetano & Calciano, Filippo L., 2008. "A characterization of inefficiency in stochastic overlapping generations economies," Journal of Economic Theory, Elsevier, vol. 143(1), pages 442-468, November.
    9. Chattopadhyay, Subir, 2006. "Optimality in stochastic OLG models: Theory for tests," Journal of Economic Theory, Elsevier, vol. 131(1), pages 282-294, November.
    10. Molina-Abraldes, Antonio & Pintos-Clapés, Juan, 2008. "Pareto optimality in continuous-time OLG economies," Journal of Mathematical Economics, Elsevier, vol. 44(9-10), pages 933-950, September.
    11. Gaetano Bloise & Filippo L. Calciano, 2007. "A Note On The Characterization Of Inefficiency In Stochastic Overlapping Generations Economies," Departmental Working Papers of Economics - University 'Roma Tre' 0083, Department of Economics - University Roma Tre.
    12. Chattopadhyay, Subir, 2008. "The Cass criterion, the net dividend criterion, and optimality," Journal of Economic Theory, Elsevier, vol. 139(1), pages 335-352, March.
    13. Edward J. Green, 1999. "Money and debt in the structure of payments," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Spr, pages 13-29.
    14. Barbie, Martin & Hagedorn, Marcus & Kaul, Ashok, 2001. "Government Debt as Insurance against Macroeconomic Risk," IZA Discussion Papers 412, Institute for the Study of Labor (IZA).
    15. Barbie, Martin & Hagedorn, Marcus & Kaul, Ashok, 2000. "Dynamic Efficiency and Pareto Optimality in a Stochastic OLG Model with Production and Social Security," IZA Discussion Papers 209, Institute for the Study of Labor (IZA).
    16. Molina-Abraldes, Antonio & Pintos-Clapes, Juan, 2003. "A complete characterization of Pareto optimality for general OLG economies," Journal of Economic Theory, Elsevier, vol. 113(2), pages 235-252, December.

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