### Abstract

This paper is concerned with generic properties of the set of price equilibria of overlapping-generations economies that include money. It is shown (in a C^{1} topology) that if generations live for m periods and if there are n goods available in each period, then most economies will feature equilibrium price sets of dimension at most (m-1)n. It is likewise shown that for every k that ranges between 0 and (m-1)n there are open sets of economies which possess locally k-dimensional, C^{1} manifolds of equilibria. In the process of establishing these facts, a transversality theorem is proved which applies to maps, not necessarily Fredholm, between open subsets of non-separable, infinite-dimensional spaces.

Original language | English (US) |
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Pages (from-to) | 209-230 |

Number of pages | 22 |

Journal | Journal of Mathematical Economics |

Volume | 18 |

Issue number | 3 |

DOIs | |

State | Published - 1989 |

### ASJC Scopus subject areas

- Economics and Econometrics
- Applied Mathematics

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## Cite this

*Journal of Mathematical Economics*,

*18*(3), 209-230. https://doi.org/10.1016/0304-4068(89)90022-0