Existence of Steady States with Positive Consumption in the Kiyotaki-Wright Model
证明在包含N种商品和法定货币的Kiyotaki-Wright模型中，通过允许混合策略，总存在消费为正的稳态，并证明存在所有人都接受最低存储成本物品的稳态，若法定货币满足此条件则存在货币稳态。
We prove the general existence of steady states with positive consumption in an N goods and fiat money version of the Kiyotaki-Wright model by admitting mixed strategies. We also show that there always exists a steady state in which everyone accepts a least costly-to-store object. In particular, if fiat money is one such object, then there always exists a monetary steady state. We also establish some other properties of steady states and comment on the relationship between steady states and (incentive) feasible allocations.