Abstract
This paper investigates the valuation of fiat money in a Wallacian overlapping generations economy with idiosyncratic storage risk. Unlike Wallace's own result, the value of money can be positive independent of the rate of population growth.
| Original language | English |
|---|---|
| Pages (from-to) | 73-77 |
| Number of pages | 5 |
| Journal | Economics Letters |
| Volume | 45 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 1994 May |