Optimality of barter steady states ! Franc 7
نویسنده
چکیده
In the present paper, the issue of the existence of optimal barter steady states is addressed in a stationary overlapping generations model with many commodities and many different long-lived consumers. A general characterization of the individual endowments leading to an optimal barter steady state is obtained. The result, which is a generalization of Benveniste and Cass (1986), is obtained as a corollary of an unpublished result of Cass (1982). ( 1998 Elsevier Science B.V. All rights reserved. JEL classification: D51; D61; D91; E40
منابع مشابه
Dynamics Analysis of the Steady and Transient States of a Nonlinear Piezoelectric Beam by a Finite Element Method
This paper presents a finite element formulation for the dynamics analysis of the steady and transient states of a nonlinear piezoelectric beam. A piezoelectric beam with damping is studied under harmonic excitation. A numerical method is used for this analysis. In the paper, the central difference formula of four order is used and compared with the central difference formula of two order in th...
متن کاملSteady state behavior and maintenance planning of bleaching system in a paper plant
This paper presents the steady state behavior and maintenance planning of the bleaching system in a paper plant. The paper plant comprises of various systems including feeding, chipping, digesting, washing, bleaching, screening, stock preparation and paper making, etc. One of the most important functionaries of a paper plant, on which quality of paper depends, is the bleaching system, where rem...
متن کاملروش بهرهور برای رشد اقتصادی بدون رشد نقدینگی
One of the opportunities that enable better utilization of funds to finance the country's policy makers, CEOs and financial institutions gives profit, use of barter transactions rather than cash transactions and money payment. Although It deals with history as long as the formation of the first human set (before the invention of money and Intermediate goods), but the use of these methods ...
متن کاملThe Simulation and Control of Ammonia Unit of Shiraz Petrochemical Complex, Iran
The aim of this paper is the steady state and dynamic simulations of the ammonia unit of Shiraz petrochemical complex and system behavior study versus the feed flow rate change for producing a good quality product. The ammonia unit consists of the reformer units, shift converter units, carbon dioxide absorption unit, methanation unit, and ammonia synthesis unit. For this purpose, in the first s...
متن کاملCurrency Unions and International Integration: Evidence from the CFA and the ECCU
In this paper we develop a model to identify real exchange rate and output shocks in the African CFA Franc Zone and in Dollar-pegging Caribbean countries (including members of the East Caribbean Currency Union). These two groups of countries each comprise states using several different local currencies: on the one hand the BCEAOCFA Franc and the BEAC-CFA Franc (both pegged to the Euro), on the ...
متن کامل