Stationary monetary equilibria with strictly increasing value functions and non-discrete money holdings distributions: An indeterminacy result |
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| Authors: | Kazuya Kamiya Takashi Shimizu |
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| Institution: | aFaculty of Economics, University of Tokyo, Bunkyo-ku, Tokyo 113-0033, Japan;bFaculty of Economics, Kansai University, 3-3-35 Yamate-cho, Suita-shi, Osaka 564-8680, Japan |
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| Abstract: | In this paper, we present a search model with divisible money in which there exists a continuum of monetary equilibria with strictly increasing continuous value functions and with non-discrete money holdings distributions. |
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| Keywords: | JEL classification: C72 C78 D44 D51 D83 E40 |
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