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La monnaie et l'intérêt sous contrainte de transaction

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  • Robert E. Lucas Jr.
  • Nancy L. Stokey

Abstract

In this paper we analyze an aggregative general equilibrium model in which the use of money is motived by a cash-in-advance constraint, applied to purchases of a subset of consumption goods. The system is subject to both real and monetary shocks, which are economy-wide and observed by all. We develop methods for verifying the exitence of, characterizing, and explicity calculating equilibria.

Suggested Citation

  • Robert E. Lucas Jr. & Nancy L. Stokey, 1987. "La monnaie et l'intérêt sous contrainte de transaction," Annals of Economics and Statistics, GENES, issue 8, pages 1-26.
    • Handle: RePEc:adr:anecst:y:1987:i:8:p:1-26
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    File URL: http://www.jstor.org/stable/20075668
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