%0 Journal Article
%T Observationally Equivalent Financial Mechanisms in an OLG Model with Spatial Separation
%A Eisei Ohtaki
%J Theoretical Economics Letters
%P 226-238
%@ 2162-2086
%D 2021
%I Scientific Research Publishing
%R 10.4236/tel.2021.112016
%X This study introduces search frictions into a
variant of overlapping generations environments, as in<span style=\"color:#538135;\"> </span><a href=\"#ref13\">Smith (2002)</a>. In the model,
this study compares financial intermediation to trading shares in decentralized
secondary markets. The results show that
under certain conditions, both financial mechanisms generate the same
equilibrium outcome.
%K Financial Intermediation
%K Search
%K Overlapping Generations Model
%K Spatial Separation
%K Friedman Rule
%U http://www.scirp.org/journal/PaperInformation.aspx?PaperID=108265