Determinacy with nominal assets and outside money

Pradeep Dubey and John Geanakoplos ()

Economic Theory, 2006, vol. 27, issue 1, 79-106

Abstract: We build a finite horizon model with inside and outside money, in which interest rates, price levels and commodity allocations are determinate, even though asset markets are incomplete and asset deliveries are purely nominal. Copyright Springer-Verlag Berlin/Heidelberg 2006

Keywords: Central bank; Inside money; Outside money; Incomplete assets; Monetary equilibrium; Determinacy. (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (39)

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DOI: 10.1007/s00199-004-0591-4

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