Money in Consumption Economies
نویسنده
چکیده
Three sequential models of consumption economies are considered, where consumers’ only endowment is money. The existence and unicity of temporary equilibria, the neutrality of money and the validity of quantity theory are investigated. In the ...rst two models ”money” is perishable; in the second one lending between consumers is possible. In the third model money is an asset and can be created through bank loans.
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تاریخ انتشار 2001