Advanced Search
MyIDEAS: Login to save this paper or follow this series

Price level determination and seigniorage in a cash-in-advance economy with inside money

Contents:

Author Info

  • Stéphane Dupraz

    (UP1 UFR02 - Université Paris 1, Panthéon-Sorbonne - UFR d'Économie - Université Paris I - Panthéon-Sorbonne - PRES HESAM)

Registered author(s):

    Abstract

    Une monnaie interne est introduite dans un modèle d'équilibre général monétaire avec production. Ce dernier comprend des actifs financiers, dont certains sont les dépôts à vue, un passif des banques utilisé comme moyen de paiement. La demande de monnaie provient d'une contrainte d'encaisses préalables. Il est montré que la substitution d'une monnaie interne à la monnaie externe généralement utilisée dans les modèles de Cash-In-Advance peut fortement nuancer les deux principales caractéristiques de la modélisation à contrainte d'encaisses préalables. Premièrement, le niveau des prix de l'économie peut ne pas être déterminé à travers l'équation quantitative de la monnaie, même dans le cas d'un contrôle des réserves des banques. Deuxièmement, il est possible que la taxe inflationniste cache une subvention inflationniste à l'épargne, quantitativement plus importante.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://dumas.ccsd.cnrs.fr/docs/00/64/37/07/PDF/Dupraz_StA_phane.pdf
    Our checks indicate that this address may not be valid because: 404 Not Found (http://dumas.ccsd.cnrs.fr/docs/00/64/37/07/PDF/Dupraz_StA_phane.pdf [302 Found]--> http://hal.archives-ouvertes.fr/err404.php). If this is indeed the case, please notify (CCSD)
    Download Restriction: no

    Bibliographic Info

    Paper provided by HAL in its series Post-Print with number dumas-00643707.

    as in new window
    Length:
    Date of creation: 30 Jun 2011
    Date of revision:
    Handle: RePEc:hal:journl:dumas-00643707

    Note: View the original document on HAL open archive server: http://dumas.ccsd.cnrs.fr/dumas-00643707
    Contact details of provider:
    Web page: http://hal.archives-ouvertes.fr/

    Related research

    Keywords:

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, American Economic Association, vol. 71(3), pages 393-410, June.
    2. Carl E. Walsh, 2010. "Monetary Theory and Policy, Third Edition," MIT Press Books, The MIT Press, The MIT Press, edition 3, volume 1, number 0262013770, December.
    3. Chiappori, Pierre-Andre & Perez-Castrillo, David & Verdier, Thierry, 1995. "Spatial competition in the banking system: Localization, cross subsidies and the regulation of deposit rates," European Economic Review, Elsevier, Elsevier, vol. 39(5), pages 889-918, May.
    4. Mark L. Gertler, 1988. "Financial Structure and Aggregate Economic Activity: An Overview," NBER Working Papers 2559, National Bureau of Economic Research, Inc.
    5. Holmstrom, Bengt & Tirole, Jean, 1997. "Financial Intermediation, Loanable Funds, and the Real Sector," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 112(3), pages 663-91, August.
    6. Goodfriend, Marvin, 1988. "Financial Structure and Aggregate Economic Activity: An Overview: Comment," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 20(3), pages 589-93, August.
    7. Xavier Freixas & Jean-Charles Rochet, 1997. "Microeconomics of Banking," MIT Press Books, The MIT Press, The MIT Press, edition 1, volume 1, number 0262061937, December.
    8. Weiss, Laurence, 1988. "Financial Structure and Aggregate Economic Activity: An Overview: Comment," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 20(3), pages 594-96, August.
    9. Andrew B. Abel, 1985. "Dynamic Behavior of Capital Accumulation in a Cash-in-Advance Model," NBER Working Papers 1549, National Bureau of Economic Research, Inc.
    10. Nason, James M & Cogley, Timothy, 1994. "Testing the Implications of Long-Run Neutrality for Monetary Business Cycle Models," Journal of Applied Econometrics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 9(S), pages S37-70, Suppl. De.
    11. Frederic S. Mishkin, 1995. "Symposium on the Monetary Transmission Mechanism," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 9(4), pages 3-10, Fall.
    12. Svensson, Lars E O, 1985. "Money and Asset Prices in a Cash-in-Advance Economy," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 93(5), pages 919-44, October.
    13. Milton Friedman & Anna J. Schwartz, 1963. "A Monetary History of the United States, 1867-1960," NBER Books, National Bureau of Economic Research, Inc, number frie63-1.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:hal:journl:dumas-00643707. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.