La demanda excedente de dinero en un sistema de equilibrio general con un mercado de capitales, desempleo involuntario y expectativas proporcionales en precios y salarios

The excess demand for money in a general equilibrium system with capital market expectations involuntary unemployment and proportional wage and price expectations

Carlos A. Rodríguez

MPRA Paper from University Library of Munich, Germany

Abstract: Building on the work of Noriega (1994), this paper demonstrates how you get an excess demand for money alternative, relating the total value of production and consumption. However, unlike this paper, we use the dynamic programming method to assess consumer behavior and production function are introduced capital installation costs. According to the results, money, besides depending on the magnitude of the interest rate, the behavior of capital markets and effective demand, also be affected, albeit indirectly, by each company profits generated in its production period, the remuneration received by each consumer of its shares, the amount of product that companies want to produce, demand and labor supply and wages.

Keywords: Monetary Theory; General Equlibrium; Mathematical Methods (search for similar items in EconPapers)
JEL-codes: C02 D11 (search for similar items in EconPapers)
Date: 2009-09
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Published in Ensayos y Monografías 145.N/A(2009): pp. 1-38

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