منابع مشابه
Money as a Mechanism in a Bewley Economy∗
We study what features an economic environment might possess, such that it would be Pareto efficient for the exchange of goods in that environment to be conducted on spot markets where those goods trade for money. We prove a conjecture that is essentially due to Bewley [1980, 1983]. The gist is that monetary spot trading is nearly efficient ex ante in an environment where very patient agents ca...
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The paper presents a theory of the demand for money that combines a special case of the shopping time exchange economy with the cash-in-advance framework. The model predicts that both higher inflation and financial innovation that reduces the cost of credit induce agents to substitute away from money towards exchange credit. This results in an interest elasticity of money that rises with the in...
متن کاملA Critical Discourse about Demand for Money Studies in the Iranian Economy (1989- 2000)
This paper provides a critical review of the demand for money estimation. In doing so, first we explain the main effective factors on the demand for money on the light of monetarists, which those are: transaction demand for money and opportunity cost of holding money. Then I have done a short report about the existing studies on the demand for money in the Iranian economy and have a special att...
متن کاملthe significance of conjunction as a cohesive device in teaching writing
the research questions were as follows: 1. is there any relationship between the students concious awareness of the form and implications of the conjuncations and their improvement in using appropriate conjunctions? 2. does students knowledge of the from and the implications of the conjunctions help them to produce more coherent writings. 3. does a comparison between english conjunctions and th...
15 صفحه اولMoney-mediated Disequilibrium Processes in a Pure Exchange Economy
Studied here are dynamical processes of money-mediated exchange and price adjustment in a pure exchange economy of durables. The processes take place in continuous time and are specified by fields of cones which define admissible trajectories in price-allocation or allocation space. Under strong classical assumptions on preferences and fairly mild behavioral assumptions, stability theorems are ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2003
ISSN: 1556-5068
DOI: 10.2139/ssrn.365063