References in periodicals archive ?
We begin with the behavior of agents who save autarkically.
If he saves autarkically, he divides his saving between holdings of currency and investment in physical capital.
To sum up, when agents save autarkically, a higher rate of money creation leads to a higher steady-state nominal rate of interest, a lower real rate of interest, and a higher steady-state capital stock.
To this point we have imposed either that agents save autarkically or that agents' saving is intermediated, and we examined the potential equilibria emerging in each case.
We begin by considering the lifetime expected utility of an agent who saves autarkically This (maximized) utility level is given by the expression
Agents will save autarkically at date t if and only if
If the autarkic candidate equilibrium real wage and nominal rate of interest at t satisfy (20), then there exists an equilibrium in which agents save autarkically at t.
In Figure 5B, (23) holds for two disjoint ranges of values of the nominal interest rate, implying that agents save autarkically for either low or high values of the nominal interest rate.
Finally, there may also be additional "mixed" equilibria where a fraction of lenders and/or good borrowers enter the match, while the remaining agents choose the alternative strategies (investing risk-free for lenders, operating the project autarkically for the borrowers.
In a mixed equilibrium, some lenders and/or good borrowers enter the match, while the remaining agents choose the alternative strategies (investing risk-free for lenders, operating the project autarkically for the borrowers).
Thesaurus browser ?
- Australopithecus boisei
- Australopithecus robustus
- Austrian capital
- Austrian monetary unit
- Austrian schilling
- Austrian winter pea
- Austro-Asiatic language
- Austrocedrus chilensis
- Austronesian language
- Austrotaxus spicata
- authoring language
- authoritarian regime
- authoritarian state
Full browser ?
- Autarquia Hospitalar Municipal Regional Central
- Autauga County
- Autauga County Family Support Center
- Autauga County, AL
- Autauga County, Alabama
- Autauga Elmore Mental Retardation Board
- Autauga Elmore Mental Retardation Board, Inc.
- Autauga Quality Cotton Association
- AUTEC Real-Time Graphic Online Support System