Real Determinacy with Nominal Assets

Pradeep Dubey and John Geanakoplos ()
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John Geanakoplos: Cowles Foundation, Yale University, https://economics.yale.edu/people/faculty/john-geanakoplos

No 1427, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

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.

Keywords: Central bank; Inside money; Outside money; Incomplete assets; Monetary equilibrium; Real determinacy (search for similar items in EconPapers)
JEL-codes: D50 E40 E50 E58 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2003-06
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Published in Economic Theory (2006), 27(1): 79-106

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Related works:
Working Paper: Real Determinacy with Nominal Assets (2004)
Working Paper: Real Determinacy with Nominal Assets (2004)
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