Download or read book Equilibrium and Media of Exchange in a One period General Equilibrium Model with Transactions Costs and Paper Money written by Rüdiger Pethig and published by . This book was released on 1973 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book General Equilibrium Models of Monetary Economies written by Ross M. Starr and published by Academic Press. This book was released on 2014-05-10 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: General Equilibrium Models of Monetary Economies: Studies in the Static Foundations of Monetary Theory is a collection of essays that addresses the integration of the theory of money and the theory of value by using a mathematical general equilibrium theory. The papers discuss monetary theory, microeconomic theory, bilateral trade, transactions costs, intertemporal allocation, and the value of money. The Arrow-Debreu model of Walrasian general equilibrium theory provides a framework to represent money as a device for facilitating trade among economic agents without the use of money as a medium of exchange and as a store of value. The essays analyze the rationale for using a medium of exchange, for using a store of value, and for holding of idle balances in equilibrium. The essays show that by explicit modeling of the structure and difficulties of trade, a powerful class of models which deny money and finance a role in the economy, has by itself shown to have provided the foundation for the structures of trade. The collection will prove helpful for economists, statistician, mathematicians, students or professors of economics and business.
Download or read book A Monetary Equilibrium Model with Transactions Costs written by Julio Rotemberg and published by . This book was released on 1982 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents the competitive equilibrium of an economy in which people hold money for transactions purposes. It studies both the steady states which result from different rates of monetary expansion and the effects of such non-steady state events as an open market operation. Even though the model features no uncertainty and perfect foresight, open market operations affect aggregate output. In particular, a simultaneous increase in money and governmental holdings of capital temporarily raises aggregate capital and output while it lowers the real rate of interest on capital.
Download or read book A Monetary Equilibrium Model With Transactions Costs Classic Reprint written by Julio Rotemberg and published by . This book was released on 2015-08-05 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from A Monetary Equilibrium Model With Transactions Costs This paper presents the competitive equilibrium of an economy in which people hold money for transactions purposes. It studies both the steady states which result from different rates of monetary expansion and the effects of such non steady state events as an open market operation. Even though the model features no uncertainty and perfect foresight, open market operations affect aggregate output. In particular, a simultaneous increase in money and governmental holdings of capital temporarily raises aggregate capital and output while it lowers the real rate of interest on capital. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Download or read book Equilibrium and Demand for Media of Exchange in a Pure Exchange Economy with Transactions Costs written by Ross M. Starr and published by . This book was released on 1970 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mathematical general equilibrium analysis has to date developed almost completely without reference to monetary phenomena or money as a commodity. Clearly this leaves us somewhat at sea in looking for a mathematical general equilibrium analysis of a monetary economy. This gap in the theory reflects actually a more fundamental lacuna, the absence of a theory of transactions. Money's primary function--the one from which its other roles derive--is as a medium of exchange, a facilitator of transactions. But what do transactions look like in a general equilibrium model. The story that is usually told to describe the market of a general equilibrium model is something like this: All the traders get together in one place with an auctioneer. The latter eventually calls out equilibrium prices. All traders then put their excess supplies at those prices into a central pile of goods and withdraw from that pile their excess demands. Because the prices are equilibrium prices, supplies and demands balance and no trader is left with an unsatisfied demand. (Author).
Download or read book Studies in the General Equilibrium Theory of Money and Transaction Costs written by Seppo Honkapohja and published by . This book was released on 1979 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Money and General Equilibrium Theory written by Pascal Bridel and published by Edward Elgar Publishing. This book was released on 1997 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bridel (economics, U. of Lausanne, Switzerland) reconstructs the pioneering attempts of Leon Walras (1834-1910) and Vilfredo Pareto (1848-1923) to coordinate money and general equilibrium theory. He argues that the very logic of the original static general equilibrium model excludes the integration of monetary and value theory, shows how money is prevented from playing its essential role as a social institution in allowing monetary exchanges between individuals, and calls for some radical re- thinking about the theoretical construction on which much modern economic theory is based. Annotation copyrighted by Book News, Inc., Portland, OR
Download or read book On the Role of Paper Money in General Equilibrium Model Without Transactions Costs written by Atsushi Kajii and published by . This book was released on 1994 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book General Equilibrium Analysis of Monetary Economies written by Ross M. Starr and published by . This book was released on 1971 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On the Role of Paper Money in General Equilibrium Model Without Transaction Costs written by Atsushi Kajii and published by . This book was released on 1994 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Money and the Mechanism of Exchange written by William Stanley Jevons and published by New York : D. Appleton, c[1875]. This book was released on 1875 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Series title also at head of t.p.
Download or read book General Equilibrium and Comparative Statics in an Exchange Economy with Money Price Uncertainty and Transactions Costs written by Richard Dusansky and published by . This book was released on 1974 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Why is There Money written by Ross M. Starr and published by . This book was released on 1999 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Why is There Money written by Ross M. Starr and published by . This book was released on 1999 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Equilibrium and Media of Exchange in a Convex Trading Post Economy with Transaction Costs written by and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Chicago Plan Revisited written by Mr.Jaromir Benes and published by International Monetary Fund. This book was released on 2012-08-01 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.
Download or read book The Structure of Applied General Equilibrium Models written by Victor Ginsburgh and published by MIT Press. This book was released on 2002 with total page 580 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bridges the gap between applied and theoretical general equilibrium models.
