La demanda excedente de dinero en un sistema de equilibrio general con un mercado de capitales, desempleo involuntario y expectativas proporcionales en precios y salarios
[The excess demand for money in a general equilibrium system with capital market expectations involuntary unemployment and proportional wage and price expectations]
AbstractBuilding on the work of Noriega (1994), this paper demonstrates how you get an excess demand for money alternative, relating the total value of production and consumption. However, unlike this paper, we use the dynamic programming method to assess consumer behavior and production function are introduced capital installation costs. According to the results, money, besides depending on the magnitude of the interest rate, the behavior of capital markets and effective demand, also be affected, albeit indirectly, by each company profits generated in its production period, the remuneration received by each consumer of its shares, the amount of product that companies want to produce, demand and labor supply and wages.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 41276.
Date of creation: Sep 2009
Date of revision:
Publication status: Published in Ensayos y Monografías 145.N/A(2009): pp. 1-38
Monetary Theory; General Equlibrium; Mathematical Methods;
Find related papers by JEL classification:
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
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.:
- Robert E. Lucas, Jr. & Nancy L. Stokey, 1985.
"Money and Interest in a Cash-in-Advance Economy,"
NBER Working Papers
1618, National Bureau of Economic Research, Inc.
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