Money in Consumption Economies

José Manuel Gutiérrez ()
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José Manuel Gutiérrez: https://econ.univie.ac.at

Vienna Economics Papers from University of Vienna, Department of Economics

Abstract: Three sequential models of consumption economies are considered, where consumers' only endowment is money. The existence and unicity of temporary equilibria, the neutrality of money and the validity of quantity theory are investigated. In the first two models "money" is persihable; in the second one lending between consumers is possible. In the third model money is an asset and can be created through bank loans.

JEL-codes: E4 E5 (search for similar items in EconPapers)
Date: 2001-04
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Persistent link: https://EconPapers.repec.org/RePEc:vie:viennp:vie0105

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