Giraud, Gaël; Tsomocos, Dimitrios - Maison des Sciences Économiques, Université Paris 1 … - 2004
We define a non-tâtonnement dynamics in continuous-time for pure-exchange economies with outside and inside fiat money. Traders are myopic, face a cash-in-advance constraint and play dominant strategies in a short-run monetary strategic market game involving the limit-price mechanism. The...