La monnaie et l'intérêt sous contrainte de transaction

Robert Lucas and Nancy L. Stokey

Annals of Economics and Statistics, 1987, issue 8, 1-26

Abstract: In this paper we analyze an aggregative general equilibrium model in which the use of money is motived by a cash-in-advance constraint, applied to purchases of a subset of consumption goods. The system is subject to both real and monetary shocks, which are economy-wide and observed by all. We develop methods for verifying the exitence of, characterizing, and explicity calculating equilibria.

Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:1987:i:8:p:1-26

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