On the Short-Run Equilibrium in a Monetary Economy

Jean-Michel Grandmont ()

Chapter 12 in Allocation under Uncertainty: Equilibrium and Optimality, 1974, pp 213-228 from Palgrave Macmillan

Abstract: Abstract A model of an exchange economy is presented where money is the only asset. It is shown that, under some assumptions, a short-run equilibrium exists if the traders’ price expectations do not depend ‘too much’ on current prices.

Keywords: Price System; Monetary Economy; Current Prex; Price Expectation; Money Balance (search for similar items in EconPapers)
Date: 1974
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Citations: View citations in EconPapers (14)

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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-01989-2_12

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DOI: 10.1007/978-1-349-01989-2_12

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