On the Existence and Role of Money in a Stationary System

Robert E. Kuenne
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Robert E. Kuenne: Princeton University

Chapter 17 in General Equilibrium Economics, 1992, pp 413-426 from Palgrave Macmillan

Abstract: Abstract This brief paper seeks to examine the basis upon which the existence and use of money rests in a stationary framework. Its major innovation is to uncover a neglected cost in the circulation of goods and services — the costs of clearing accounts between economic units — and, ultimately, to ground the use of money under stationary conditions in an advantage money possesses inherently on this count over personal credit.

Keywords: Interest Rate; Default Risk; Bank Deposit; Economic Unit; Cash Balance (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12752-8_18

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DOI: 10.1007/978-1-349-12752-8_18

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