Template-Type: ReDIF-Paper 1.0
Title: Optimality of Stationary Asset Equilibria Under Real Stochastic Monetary Shocks
Author-Name: Bernhard Eckwert
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Keywords: Inflation tax, monetary shocks, strong (weak) inefficiency, overlapping generations
Abstract: In this paper we characterize the set of Pareto optimal asset 
 equilibria in a stochastic OLG-framework when real monetary shocks impinge 
 on the economy. We show that it is the strength rather than the mere 
 presence of monetary disturbances that accounts for, if the market mechanism 
 fails to achieve allocating effiency.
Series: Sonderforschungsbereich 303, University of Bonn, Germany
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Creation-Date: 1990-01
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Handle: RePEc:bon:bonsfa:272