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 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 Money written by Rudolf Richter and published by Springer. This book was released on 1989-09-07 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: The central idea of this book is the concept of a currency order. Monetary theory is developed as a theory of currency orders. The book expands the neoclassical theory of currency orders. This new way of looking at the problems permits a general view of the subject matter of monetary theory and policy which so far does not exist. The concept of transaction costs is used throughout. The book deals not only with the theories of the demand for and the supply of money, the banking firm, and the purchasing power of money. It also presents a theoretically based discussion of the great topics of monetary policy of our time: fixed vs. flexible exchange rates, gold vs. paper, rules vs. authority for the central banks, governmental currency monopoly vs. competition of private currencies, regulation vs. deregulation of commercial banks. The book is suitable as a text for students with a knowledge of money and banking and intermediate microeconomics. It offers a consistent and well-written presentation of the subject matter, as well as an extensive list of further readings.
Download or read book Why is There Money written by Ross M. Starr and published by Edward Elgar Publishing. This book was released on 2013-08-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The microeconomic foundation of the theory of money has long represented a puzzle to economic theory. Why is there Money? derives the foundations of monetary theory from advanced price theory in a mathematically precise family of trading post models. It has long been recognized that the fundamental theoretical analysis of a market economy is embodied in the Arrow-Debreu-Walras mathematical general equilibrium model, with one great deficiency: the analysis cannot accommodate money and financial institutions. In this groundbreaking book, Ross M. Starr addresses this problem directly, by expanding the Arrow-Debreu model to include a multiplicity of trading opportunities, with the resultant endogenous derivation of money as the carrier of value among them. This fundamental breakthrough is achieved while maintaining the Walrasian general equilibrium price-theoretic structure, augmented primarily by the introduction of separate bid and ask prices reflecting transaction costs. The result is foundations of monetary theory consistent with and derived from modern price theory. This fascinating book will provide a stimulating and thought-provoking read for academics and postgraduate students focusing on economics, macroeconomics, macroeconomic policy and finance, money and banking. Central bankers will also find much to interest them within this book. Contents: Introduction: Why is There No Money? 1. Why is There Money? 2. An Economy Without Money 3. The Trading Post Model 4. An Elementary Linear Example: Liquidity Creates Money 5. Absence of Double Coincidence of Wants is Essential to Monetization in a Linear Economy 6. Uniqueness of Money: Scale Economy and Network Externality 7. Monetization of General Equilibrium 8. Government-Issued Fiat Money 9. Efficient Structure of Exchange 10. Microfoundations of Jevons's Double Coincidence Condition 11. Commodity Money Equilibrium in a Convex Trading Post Economy 12. Efficiency of Commodity Money Equilibrium 13. Alternative Models 14. Conclusion and a Research Agenda Bibliography Index
Download or read book Transaction Costs in General Equilibrium Theory written by Alistair M. Ulph and published by . This book was released on 1974 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book General Equilibrium written by Frank Hahn and published by Routledge. This book was released on 2003-09-02 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years certain leading figures in the world of economics have called the usefulness of general equilibrium theory into question. This superb new book brings together leading economic theorists with important contributions to the ongoing debate. General equilibrium theorists including Michio Morishima, Michael Magill and Martine Quinzii debate strengths, weaknesses and possible futures with leading thinkers such as Herb Gintis, Pierangelo Garegnani and Duncan Foley, who seek to explain the rejection of general equilibrium. Uniquely, none of the contributors portray general equilibrium theory as the perfect guide to market economies actual behaviour, but rather illustrate that there is insufficient acquaintance with existing alternatives and that general equilibrium theory is often used as an ideal 'benchmark'.
Download or read book General Equilibrium Theory written by Ross M. Starr and published by Cambridge University Press. This book was released on 2011-04-25 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: General Equilibrium Theory: An Introduction presents the mathematical economic theory of price determination and resource allocation from elementary to advanced levels, suitable for advanced undergraduates and graduate students of economics. This Arrow–Debreu model (known for two of its most prominent founders, both Nobel Laureates) is the basis of modern price theory and of a wide range of applications. The new edition updates discussion throughout and expands the number and variety of exercises. It offers a revised and extended treatment of core convergence, including the case of non-convex preferences, and introduces the investigation of approximate equilibrium with U-shaped curves and non-convex preferences.
Download or read book General Equilibrium Analysis and the Theory of Markets written by Manuel Luís Costa and published by Edward Elgar Publishing. This book was released on 1998 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a comprehensive critique of the Walrasian general equilibrium approach and argues that it cannot account for the behaviour of the real economy at a microeconomic level. This book will be of great interest to scholars of the history of economic thought and microeconomic theory.
Download or read book Monetary General Equilibrium with Transaction Costs written by Ross M. Starr and published by . This book was released on 2002 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 General Equilibrium Economics written by Robert E. Kuenne and published by . This book was released on 1992 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection of published papers in general equilibrium that explore the basic problems of extensive interdependence in models incorporating oligopoly, space, time and money. Robert E. Kuenne has also written "The Theory of General Economic Equilibrium."
Download or read book General Equilibrium Theory written by Takashi Negishi and published by Edward Elgar Publishing. This book was released on 1994 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: General Equilibrium Theory, the first volume of Takashi Negishi's collected essays, contains some of his most important contributions on the theory and applications of general equilibrium analysis published over the last 30 years. Grouped under the headings of Equilibrium and Welfare, Stability, Monetary Economics, International Economics, Public Economics and Disequilibrium Theory, the 47 essays and papers reprinted in this collection cover not only pure theory but also applications of general equilibrium analysis. Some of these essays have made seminal contributions and have been widely cited, while others were published in journals and festschrifts which are no longer easily available. Professor Negishi has prepared an introduction to this volume in which he discusses the contributions he made in these essays in the light of the most recent developments in the field.
Download or read book General Equilibrium Analysis written by E. Roy Weintraub and published by University of Michigan Press. This book was released on 1993 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: A profound, innovative, and lively exploration of the nature of the theory at the very center of economics
Download or read book Why is There Money Convergence to a Monetary Equilibrium in a General Equilibrium Model with Transaction Costs written by Ross M. Starr and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Guidance of an Enterprise Economy written by Martin Shubik and published by MIT Press. This book was released on 2016-09-23 with total page 591 pages. Available in PDF, EPUB and Kindle. Book excerpt: A rigorous theory of money, credit, and bankruptcy in the context of a mixed economy, uniting Walrasian general equilibrium with macroeconomic dynamics and Schumpeterian innovation. This book offers a rigorous study of control, guidance, and coordination problems of an enterprise economy, with attention to the roles of money and financial institutions. The approach is distinctive in drawing on game theory, methods of physics and experimental gaming, and, more generally, a broader evolutionary perspective from the biological and behavioral sciences. The proposed theory unites Walrasian general equilibrium with macroeconomic dynamics and Schumpeterian innovation utilizing strategic market games. Problems concerning the meaning of rational economic behavior and the concept of solution are noted. The authors argue that process models of the economy can be built that are consistent with the general equilibrium system but become progressively more complex as new functions are added. Explicit embedding of the economy within the framework of government and society provides a natural, both formal and informal, control system. The authors describe how to build and analyze multistate models with simple assumptions about behavior, and develop a general modeling methodology for the construction of models as playable games.
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 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:
