Abstract. This paper examines the equilibrium existence of an overlapping generationsmodel with transaction costs. Moreover, we also show that if the equilibrium prices ofbuying equal those of selling the equilibrium ...Abstract. This paper examines the equilibrium existence of an overlapping generationsmodel with transaction costs. Moreover, we also show that if the equilibrium prices ofbuying equal those of selling the equilibrium allocations are pareto effiCient when the valueof the aggregate endowment at equilibrium price is finite.展开更多
基金the National Natural Science Foundation of China(79790130).
文摘Abstract. This paper examines the equilibrium existence of an overlapping generationsmodel with transaction costs. Moreover, we also show that if the equilibrium prices ofbuying equal those of selling the equilibrium allocations are pareto effiCient when the valueof the aggregate endowment at equilibrium price is finite.
