La monnaie et l'intérêt sous contrainte de transaction
In this paper we analyze an aggregative general equilibrium model in which the use of money is motived by a cash-in-advance constraint, applied to purchases of a subset of consumption goods. The system is subject to both real and monetary shocks, which are economy-wide and observed by all. We develop methods for verifying the exitence of, characterizing, and explicity calculating equilibria.
Year of publication: |
1987
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Authors: | LUCAS, Robert E. ; STOKEY, Nancy L. |
Published in: |
Annales d'Economie et de Statistique. - École Nationale de la Statistique et de l'Admnistration Économique (ENSAE). - 1987, 8, p. 1-26
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Publisher: |
École Nationale de la Statistique et de l'Admnistration Économique (ENSAE) |
Saved in:
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