Money Equilibrium And Efficiency
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Money Equilibrium And Efficiency
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Author : Douglas Gale
language : en
Publisher:
Release Date : 1980
Money Equilibrium And Efficiency written by Douglas Gale and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with categories.
Money
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Author : Douglas Gale
language : en
Publisher: Cambridge University Press
Release Date : 1982-09-30
Money written by Douglas Gale and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982-09-30 with Business & Economics categories.
This book deals mainly with what can be described as the general-equilibrium approach to monetary theory. The author does not attempt an encyclopaedic treatment, rather Gale investigates the central problems and ideas in the development of topical monetary theory. The first part of the book - technically the easier - deals with questions which will be recognized as falling within the traditional field of (macroeconomic) monetary theory, although the treatment is unflaggingly microeconomic. The second part is less conventional, dealing with the general equilibrium theory of money in a fundamental way.
Why Is There Money
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Author : Ross M. Starr
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012-01-01
Why Is There Money written by Ross M. Starr and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-01 with Business & Economics categories.
'This book makes compelling reading for anyone interested in exploring the foundations of monetary theory from a rigorous general equilibrium perspective.' – Gabriele Camera, Purdue University, US 'Introducing the Arrow-Debreu-Starr model of monetary general equilibrium, Professor Starr provides the best defense ever made for the relevance of the Walrasian model to the pure theory of money. While most monetary theorists ventured to the overlapping generations model and then to the search model, only to create recently a hybrid search-Walrasian model, Starr presents the culmination of a patient, career-long effort to integrate money into the basic Walrasian model, with realistic taxation critically helping the government's money to dominate.' – Dror Goldberg, Bar Ilan University, Israel The microeconomic foundation of the theory of money has long represented a puzzle to economic theory. Why is there Money? derives the foundations of monetary theory from advanced price theory in a mathematically precise family of trading post models. It has long been recognized that the fundamental theoretical analysis of a market economy is embodied in the Arrow-Debreu-Walras mathematical general equilibrium model, with one great deficiency: the analysis cannot accommodate money and financial institutions. In this groundbreaking book, Ross M. Starr addresses this problem directly, by expanding the Arrow-Debreu model to include a multiplicity of trading opportunities, with the resultant endogenous derivation of money as the carrier of value among them. This fundamental breakthrough is achieved while maintaining the Walrasian general equilibrium price-theoretic structure, augmented primarily by the introduction of separate bid and ask prices reflecting transaction costs. The result is foundations of monetary theory consistent with and derived from modern price theory. This fascinating book will provide a stimulating and thought-provoking read for academics and postgraduate students focusing on economics, macroeconomics, macroeconomic policy and finance, money and banking. Central bankers will also find much to interest them within this book.
Money Interest And Capital
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Author : Colin Rogers
language : en
Publisher: Cambridge University Press
Release Date : 1989-05-11
Money Interest And Capital written by Colin Rogers and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989-05-11 with Business & Economics categories.
The novel feature of this study is the application of Keynes' principle of effective demand to demonstrate the existence of a long-run unemployment equilibrium without the assumption of rigid wages.
The Non Pareto Efficiency Of Initial Allocation On Commodities And Monetary Equilibrium An Inside Economy
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Author : Stanford University. Institute for Mathematical Studies in the Social Sciences
language : en
Publisher:
Release Date : 1972
The Non Pareto Efficiency Of Initial Allocation On Commodities And Monetary Equilibrium An Inside Economy written by Stanford University. Institute for Mathematical Studies in the Social Sciences and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1972 with categories.
Capital Market Equilibrium And Efficiency
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Author : James L. Bicksler
language : en
Publisher: Free Press
Release Date : 1977
Capital Market Equilibrium And Efficiency written by James L. Bicksler and has been published by Free Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1977 with Business & Economics categories.
General Equilibrium Models Of Monetary Economies
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Author : Ross M. Starr
language : en
Publisher: Academic Press
Release Date : 2014-05-10
General Equilibrium Models Of Monetary Economies written by Ross M. Starr and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-10 with Business & Economics categories.
General Equilibrium Models of Monetary Economies: Studies in the Static Foundations of Monetary Theory is a collection of essays that addresses the integration of the theory of money and the theory of value by using a mathematical general equilibrium theory. The papers discuss monetary theory, microeconomic theory, bilateral trade, transactions costs, intertemporal allocation, and the value of money. The Arrow-Debreu model of Walrasian general equilibrium theory provides a framework to represent money as a device for facilitating trade among economic agents without the use of money as a medium of exchange and as a store of value. The essays analyze the rationale for using a medium of exchange, for using a store of value, and for holding of idle balances in equilibrium. The essays show that by explicit modeling of the structure and difficulties of trade, a powerful class of models which deny money and finance a role in the economy, has by itself shown to have provided the foundation for the structures of trade. The collection will prove helpful for economists, statistician, mathematicians, students or professors of economics and business.
On The Efficiency Of Competitive Equilibrium In Infinite Horizon Economy And Money
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Author : Masahiro Okuno
language : en
Publisher:
Release Date : 1977
On The Efficiency Of Competitive Equilibrium In Infinite Horizon Economy And Money written by Masahiro Okuno and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1977 with Equilibrium (Economics) categories.
Financial Markets Theory
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Author : Emilio Barucci
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Financial Markets Theory written by Emilio Barucci and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
A presentation of classical asset pricing theory, this textbook is the only one to address the economic foundations of financial markets theory from a mathematically rigorous standpoint and to offer a self-contained critical discussion based on empirical results. Tools for understanding the economic analysis are provided, and mathematical models are presented in discrete time/finite state space for simplicity. Examples and exercises included.
Informational Efficiency Interest Rate Variability And Central Bank Operations
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1997-03-01
Informational Efficiency Interest Rate Variability And Central Bank Operations written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-03-01 with Business & Economics categories.
It is shown how the frequency of central bank intervention in financial markets can affect the incentives for economic agents to acquire information, which will be reflected in market prices and thus become available to policy makers. The optimal frequency of intervention, and therefore the optimal interest rate variability, will balance the desirability of attaining given operational targets against the benefits of encouraging informational efficiency. The ability of the central bank to send clear signals of its own intentions will also depend on market informational efficiency.