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Transactions Loans, Intertemporal Loans, Variable Velocity, the Rates of Interest and Commodity Money: Part 1. Transactions Loans

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Abstract

Several models of exchange are presented here to illustrate various conceptual problems in the microeconomic model of the velocity of money and the meaning of and cost of liquidity in an exchange economy without exogenous uncertainty.

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  • Martin Shubik & Shuntian Yao, 1992. "Transactions Loans, Intertemporal Loans, Variable Velocity, the Rates of Interest and Commodity Money: Part 1. Transactions Loans," Cowles Foundation Discussion Papers 1014, Cowles Foundation for Research in Economics, Yale University.
    • Handle: RePEc:cwl:cwldpp:1014
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    1. Dubey, Pradeep & Sahi, Siddharta & Shubik, Martin, 1993. "Repeated trade and the velocity of money," Journal of Mathematical Economics, Elsevier, vol. 22(2), pages 125-137.
    2. Sahi, Siddhartha & Yao, Shuntian, 1989. "The non-cooperative equilibria of a trading economy with complete markets and consistent prices," Journal of Mathematical Economics, Elsevier, vol. 18(4), pages 325-346, September.
    3. Martin Shubik, 1987. "Silver and Gold and Liquidity," Cowles Foundation Discussion Papers 841, Cowles Foundation for Research in Economics, Yale University.
    4. Pradeep Dubey & John Geanakoplos & Martin Shubik, 2003. "Is gold an efficient store of value?," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 21(4), pages 767-782, June.
    5. Pradeep Dubey & John Geanakoplos & Martin Shubik, 1988. "Default and Efficiency in a General Equilibrium Model with Incomplete Markets," Cowles Foundation Discussion Papers 879R, Cowles Foundation for Research in Economics, Yale University, revised Feb 1989.
    6. Dubey, P. & Shubik, M., 1988. "A note on an optimal garnishing rule," Economics Letters, Elsevier, vol. 27(1), pages 5-6.
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