Toward a monetary theory of the market economy. A study of Money and Price Theory
This text examines the monetary market economy model developed by Benetti and Cartelier (2001). The authors construct a pure exchange monetary economy within a general equilibrium framework. Money is crucial in determining market prices and in coordinating transactions. This monetary approach of markets exhibits an essential feature of a market economy: the decentralization of actions and thus disequilibrium analysis. Individual disequilibria are caused by mistaken expectations. We emphasize the properties of this monetary economy and discuss the approach retained. The model is original and relevant, despite two shortcomings: the formation of expectations and its generalization to more complex market economies.
Volume (Year): (2007)
Issue (Month): 52 ()
|Contact details of provider:|| Web page: http://www.cahiersdecopo.fr/fr/|
|Order Information:|| Postal: 142 rue du faubourg Saint-Martin. 75010 Paris, France.|
When requesting a correction, please mention this item's handle: RePEc:cpo:journl:y:2007:i:52:p:83-104. 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: (Carlos Andrés Vasco Correa)
If references are entirely missing, you can add them using this form.