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The Neglected Market

Author

Listed:
  • Alan Rabin
  • E. Bruce Hutchinson
  • John Abraham

Abstract

The purpose of this article is to focus on the market for tangible assets, a market which has often been overlooked in the literature on macroeconomic models. For some macroeconomic problems, the addition of this "neglected market" has little bearing. However, when people change their asset preferences between financial assets (bonds) and tangible assets (previously-produced goods), there are dramatic implications for interest rates and macroeconomic variables generally. Accordingly, this article amends the standard IS-LM model to include a market for tangible assets.

Suggested Citation

  • Alan Rabin & E. Bruce Hutchinson & John Abraham, 1987. "The Neglected Market," Eastern Economic Journal, Eastern Economic Association, vol. 13(2), pages 137-142, Apr-Jun.
    • Handle: RePEc:eej:eeconj:v:13:y:1987:i:2:p:137-142
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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume13/V13N2P137_142.pdf
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    References listed on IDEAS

    as
    1. Tucker, Donald P, 1971. "Macroeconomic Models and the Demand for Money under Market Disequilibrium," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 3(1), pages 57-83, February.
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