Monetary Equilibria in a Baumol-Tobin Economy
نویسندگان
چکیده
منابع مشابه
Monetary Equilibria in a Baumol-Tobin Economy
This paper provides a non-steady state general equilibrium foundation for the transactions demand for money going back to Baumol (1952) and Tobin (1956). In our economy, money competes against real capital as a store of value. We prove existence of a monetary general equilibrium in which both real capital and at money are voluntarily held over time. The demand for money is generated by xed tran...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2006
ISSN: 1556-5068
DOI: 10.2139/ssrn.914489