Titlebook: Overlapping Structures as a Model of Money; An Analytical Review Bruno Schönfelder Book 1992 Springer-Verlag Berlin · Heidelberg 1992 Cash-

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Bruno Schönfelderoeffizienten der Wärmeausdehnung nur in den Temperaturintervallen zwischen Zimmertemperatur und 100° genügend genau kennt, und da eine große Anzahl von Legierungen durch eine wesentlich höhere Erhitzung bereits merkliche Gefügeänderungen erleidet, so haben wir unsere Bemühungen zunächst darauf geric

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The Overlapping Generation Model: An Overview,erministic pure exchange model without capital. The simplest Samuelson-model is populated by overlapping generations of agents who live for two periods. These agents receive an endowment either in the first period of their life or in both periods. The endowments consist (only) of an unstorable commo

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The Rate of Return Paradox I: OGM with Transaction Costs,In his view, it is a paradox that they hold currency even though it has a relatively low nominal rate of return. In real terms its rate of return is frequently negative. At the same time, agents tend to hold other financial assets, which similar to money do not involve a nominal payment risk, but ha

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Private Production of Outside Money,ptualizing them as enterpreneurs who maximize seigniorage is the very opposite of the benchmark case of a benevolent dictator. Presumably, the truth lies somewhere in the middle between these two extremes. We all know of some governments whose behavior is well approximated by the model of seigniorag

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Monetary Policy in the Open Economy,plications of CIA models are Lucas (1982) and Helpman (1981). The central result of Kareken and Wallace is the indeterminacy of exchange rates. In contrast, Lucas and Helpman apparently have determinate exchange rates as long as the environment does not feature intrinsinc uncertainty. One of the int