A Diagrammatic Exposition of the Monetary Trade Model

Nissan Liviatan

The Economic Record, 1979, vol. 55, issue 3, 222-229

Abstract: In recent literature the monetary model of trade is presented diagrammatically in terms of hoarding and of the relative price of non‐traded goods. In this paper we go back to the original diagrammatic approach of Mundell where he uses the stock of domestic money instead of hoarding. We adapt Mundells approach to the more recent developments of the monetary model and point out its expository advantages. We conclude the paper with a comparison of the two approaches.

Date: 1979
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https://doi.org/10.1111/j.1475-4932.1979.tb02224.x

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