Arbeitspapier
Money and indeterminacy over an infinite horizon
Money provides liquidity services through a cash-in-advance constraint. The exchange of commodities and assets extends over an infinite horizon under uncertainty and a 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-arbitrage and in addition to rates of interest, the prices of state-contingent revenues be set. – Money ; equilibrium ; indeterminacy ; monetary policy ; fiscal policy.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2002-12
- Klassifikation
-
Wirtschaft
General Equilibrium and Disequilibrium: General
Money and Interest Rates: General
Monetary Policy, Central Banking, and the Supply of Money and Credit: General
- Thema
-
Geld
Gesamtwirtschaftliche Liquidität
Geldpolitik
Finanzpolitik
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bloise, G.
Drèze, J. H.
Polemarchakis, H. M.
- Ereignis
-
Veröffentlichung
- (wer)
-
Brown University, Department of Economics
- (wo)
-
Providence, RI
- (wann)
-
2002
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Bloise, G.
- Drèze, J. H.
- Polemarchakis, H. M.
- Brown University, Department of Economics
Entstanden
- 2002
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