Add to ORKGMoney provides liquidity services through a cash-in-advance constraint. The exchange of commodities and assets extends over an infinite horizon under uncertainty and complete asset market. Monetary policy sets the path of rates of interest and accommodates the demand for balances. Competitive equilibria exist. But, for a fixed path of rates of interest, there is a non-trivial multiplicity of equilibrium paths of prices of commodities. Determinacy requires that, subject to no-artibrage and in addition to rates of interest, the prices of state-contingent revenues be somehow determined.money, equilibrium, indeterminacy, monetary policy, fiscal policy
We build a finite horizon model with inside and outside money, in which interest rates, price levels...
The paper considers the determinacy of the equilibrium price level in the cash-in-advance monetary e...
In this paper it is shown that money can matter for macroeconomic stability under interest rate poli...
Money provides liquidity services through a cash-in-advance constraint. The exchange of commodities ...
Money provides liquidity services through a cash-in-advance constraint. The exchange of commodities ...
The introduction of banks that issue money and supply balances and pay out their profis as dividends...
Summary. The paper considers the determinacy ofthe equilibrium price level in the cash-in-advance mo...
The introduction of banks that issue money and supply balances and pay out their profits as dividend...
The introduction of banks that issue money and supply balances and pay out their profits as dividend...
We study whether monetary economies display nominal indeterminacy: equivalently, whether mon-etary p...
The paper reviews results on indeterminateness of equilibria in two extensions of the standard (Arro...
Summary. Money, which provides liquidity, is distinct from debt. The introduction of a bank that iss...
Money, which provides liquidity services, is distinct from debt. The introduction of a bank that iss...
By adding endogenous investment to a flexible-price, money-in-the-utility-function model, this paper...
I address the issue of the 'number' of International Monetary Equilibria that the international fina...
We build a finite horizon model with inside and outside money, in which interest rates, price levels...
The paper considers the determinacy of the equilibrium price level in the cash-in-advance monetary e...
In this paper it is shown that money can matter for macroeconomic stability under interest rate poli...
Money provides liquidity services through a cash-in-advance constraint. The exchange of commodities ...
Money provides liquidity services through a cash-in-advance constraint. The exchange of commodities ...
The introduction of banks that issue money and supply balances and pay out their profis as dividends...
Summary. The paper considers the determinacy ofthe equilibrium price level in the cash-in-advance mo...
The introduction of banks that issue money and supply balances and pay out their profits as dividend...
The introduction of banks that issue money and supply balances and pay out their profits as dividend...
We study whether monetary economies display nominal indeterminacy: equivalently, whether mon-etary p...
The paper reviews results on indeterminateness of equilibria in two extensions of the standard (Arro...
Summary. Money, which provides liquidity, is distinct from debt. The introduction of a bank that iss...
Money, which provides liquidity services, is distinct from debt. The introduction of a bank that iss...
By adding endogenous investment to a flexible-price, money-in-the-utility-function model, this paper...
I address the issue of the 'number' of International Monetary Equilibria that the international fina...
We build a finite horizon model with inside and outside money, in which interest rates, price levels...
The paper considers the determinacy of the equilibrium price level in the cash-in-advance monetary e...
In this paper it is shown that money can matter for macroeconomic stability under interest rate poli...