What people are saying - Write a review
We haven't found any reviews in the usual places.
The modern general equilibrium transactions costs approach
24 other sections not shown
Other editions - View all
agents aggregate allocation analysis asset prices assumed assumption behavior bonds budget constraint capital central bank CM CM CM commodity commodity money consumption demand for money demand functions denote discount bonds discussed dynamic Econometrica Economic Review Economic Theory effect efficient portfolio endowment equation equilibrium estimates existence exogenous expectations fiat money firm growth holding household hypothesis implies increase individual inflation interest rates intertemporal investors Journal of Economic liquidity long-run macroeconomic maximization monetary base monetary economy monetary policy monetary theory money balances money demand money supply optimal output parameter Pareto Pareto efficient Pareto optimality period price level problem production quantity of money rational rational expectations role of money Section seigniorage Shubik Sidrauski specification stochastic store of value sunspot term structure Theorem tion Tobin trade transactions costs utility function variables vector Walrasian Walrasian equilibrium wealth zero