Disequilibrium, Reproduction and Money: a Classical Approach

Carlo Benetti (), Christian Bidard (), Edith Klimovsky () and Antoine Rebeyrol ()
Additional contact information
Carlo Benetti: EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique
Christian Bidard: EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique
Antoine Rebeyrol: EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique

Post-Print from HAL

Abstract: We consider a bisector reproduction model in which money is introduced as a pure means of exchange issued by a bank at the producers' requests. Each capitalist aims at maximizing accumulation in his own sector. Their plans are based on available quantities and expected prices. Effective prices are determined by a market mechanism. Temporary disequilibria occur in both physical and monetary terms. The settlement of the monetary balances is operated by means of a transfer of capital goods. Final allocations and effective productions are thus determined. The dynamics of the economy are those of a sequence of temporary disequilibria and let appear several possibilities (local or global stability, cycles) depending on the values of the parameters.

Date: 2014
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Published in Metroeconomica, 2014, 65 (3), pp.524 - 540. ⟨10.1111/meca.12051⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01385927

DOI: 10.1111/meca.12051

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().