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A Difficulty with the Optimum Quantity of Money

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  • Bewley, Truman
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    This series of programs solve a Bewley model with production

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    Article provided by Econometric Society in its journal Econometrica.

    Volume (Year): 51 (1983)
    Issue (Month): 5 (September)
    Pages: 1485-1504

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    Handle: RePEc:ecm:emetrp:v:51:y:1983:i:5:p:1485-504
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    1. Arrow, Kenneth J, 1974. "Limited Knowledge and Economic Analysis," American Economic Review, American Economic Association, vol. 64(1), pages 1-10, March.
    2. Feige, Edgar L & Parkin, Michael, 1971. "The Optimal Quantity of Money, Bonds, Commodity Inventories, and Capital," American Economic Review, American Economic Association, vol. 61(3), pages 335-349, June.
    3. Tsiang, S C, 1969. "A Critical Note on the Optimum Supply of Money," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(2), pages 266-280, May.
    4. Niehans, Jurg, 1975. "Interest and Credit in General Equilibrium with Transactions Costs," American Economic Review, American Economic Association, vol. 65(4), pages 548-566, September.
    5. Heller, Walter Perrin, 1974. "The holding of money balances in general equilibrium," Journal of Economic Theory, Elsevier, vol. 7(1), pages 93-108, January.
    6. Grandmont, Jean-Michel, 1977. "Temporary General Equilibrium Theory," Econometrica, Econometric Society, vol. 45(3), pages 535-572, April.
    7. Grandmont, Jean-Michel & Laroque, Guy, 1973. "Money in the pure consumption loan model," Journal of Economic Theory, Elsevier, vol. 6(4), pages 382-395, August.
    8. Schechtman, Jack, 1976. "An income fluctuation problem," Journal of Economic Theory, Elsevier, vol. 12(2), pages 218-241, April.
    9. Joseph M. Ostroy & Ross M. Starr, 1973. "Money and the Decentralization of Exchange," UCLA Economics Working Papers 041, UCLA Department of Economics.
    10. Ross M. Starr, 1972. "The Structure of Exchange in Barter and Monetary Economies," The Quarterly Journal of Economics, Oxford University Press, vol. 86(2), pages 290-302.
    11. James Tobin, 1968. "Notes on Optimal Monetary Growth," Cowles Foundation Discussion Papers 245, Cowles Foundation for Research in Economics, Yale University.
    12. Edgar L. Feige & M. Parkin & R Avery & C. Stones, 2005. "The Roles Of Money In An Economy And The Optimum Quantity Of Money," Macroeconomics 0501035, EconWPA.
    13. Sontheimer, Kevin, 1972. "On the Determination of Money Prices," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 4(3), pages 489-508, August.
    14. Calvo, Guillermo A, 1979. "On Models of Money and Perfect Foresight," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 20(1), pages 83-103, February.
    15. Bryce Hool, 1976. "Money, Expectations and the Existence of a Temporary Equilibrium," Review of Economic Studies, Oxford University Press, vol. 43(3), pages 439-445.
    16. Frank Hahn, 1973. "On Transaction Costs, Inessential Sequence Economies and Money," Review of Economic Studies, Oxford University Press, vol. 40(4), pages 449-461.
    17. Jean-Michel Grandmont & Yves Younes, 1973. "On the Efficiency of a Monetary Equilibrium," Review of Economic Studies, Oxford University Press, vol. 40(2), pages 149-165.
    18. Paul A. Samuelson, 1968. "What Classical and Neoclassical Monetary Theory Really was," Canadian Journal of Economics, Canadian Economics Association, vol. 1(1), pages 1-15, February.
    19. Saving, Thomas R, 1971. "Transactions Costs and the Demand for Money," American Economic Review, American Economic Association, vol. 61(3), pages 407-420, June.
    20. E. C. Hope, 1953. "Discussion," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 2(1), pages 86-88, 03.
    21. Johnson, Harry G, 1970. "Is There an Optimal Money Supply?," Journal of Finance, American Finance Association, vol. 25(2), pages 435-442, May.
    22. Perlman, Morris, 1973. "The Roles of Money in an Economy and the Optimum Quantity of Money: Reply," Economica, London School of Economics and Political Science, vol. 40(160), pages 432-441, November.
    23. D. K. Foley & M. F. Hellwig, 1973. "Asset Management with Trading Uncertainty," Working papers 108, Massachusetts Institute of Technology (MIT), Department of Economics.
    24. Niehans, Jurg, 1969. "Money in a Static Theory of Optimal Payment Arrangements," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(4), pages 706-726, November.
    25. Jones, Robert A, 1976. "The Origin and Development of Media of Exchange," Journal of Political Economy, University of Chicago Press, vol. 84(4), pages 757-775, August.
    26. Ostroy, Joseph M, 1973. "The Informational Efficiency of Monetary Exchange," American Economic Review, American Economic Association, vol. 63(4), pages 597-610, September.
    27. David Starrett, 1973. "Inefficiency and the Demand for "Money" in a Sequence Economy," Review of Economic Studies, Oxford University Press, vol. 40(4), pages 437-448.
    28. Paul A. Samuelson, 1969. "Nonoptimality of Money Holding under Laissez Faire," Canadian Journal of Economics, Canadian Economics Association, vol. 2(2), pages 303-308, May.
    29. Hahn, F H, 1971. "Professor Friedman's Views on Money," Economica, London School of Economics and Political Science, vol. 38(149), pages 61-80, February.
    30. Alvin L. Marty, 1968. "The Optimal Rate of Growth of Money," Journal of Political Economy, University of Chicago Press, vol. 76, pages 860-860.
    31. Gale, David, 1973. "Pure exchange equilibrium of dynamic economic models," Journal of Economic Theory, Elsevier, vol. 6(1), pages 12-36, February.
    32. Martin Shubik, 1978. "The Capital Stock Modified Competitive Equilibrium," Cowles Foundation Discussion Papers 507, Cowles Foundation for Research in Economics, Yale University.
    33. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66, pages 467-467.
    34. Clower, Robert W & Howitt, Peter W, 1978. "The Transactions Theory of the Demand for Money: A Reconsideration," Journal of Political Economy, University of Chicago Press, vol. 86(3), pages 449-466, June.
    35. Walter Perrin Heller & Ross M. Starr, 1976. "Equilibrium with Non-convex Transactions Costs: Monetary and Non-monetary Economies," Review of Economic Studies, Oxford University Press, vol. 43(2), pages 195-215.
    36. Cass, David & Okuno, Masahiro & Zilcha, Itzhak., "undated". "The Role of Money in Supporting the Pareto Optimality of Competitive Equilibrium in Consumption-Loan Type Models," Working Papers 242, California Institute of Technology, Division of the Humanities and Social Sciences.
    37. Brunner, Karl & Meltzer, Allan H, 1971. "The Uses of Money: Money in the Theory of an Exchange Economy," American Economic Review, American Economic Association, vol. 61(5), pages 784-805, December.
    38. Robert W. Clower, 1968. "Comment: The Optimal Growth Rate of Money," Journal of Political Economy, University of Chicago Press, vol. 76, pages 876-876.
    39. Hahn, F H, 1971. "Equilibrium with Transaction Costs," Econometrica, Econometric Society, vol. 39(3), pages 417-439, May.
    40. Niehans, Jurg, 1971. "Money and Barter in General Equilibrium with Transaction Costs," American Economic Review, American Economic Association, vol. 61(5), pages 773-783, December.
    41. Stein, Jerome L, 1970. "Monetary Growth Theory in Perspective," American Economic Review, American Economic Association, vol. 60(1), pages 85-106, March.
    42. Brock, William A., 1975. "A simple perfect foresight monetary model," Journal of Monetary Economics, Elsevier, vol. 1(2), pages 133-150, April.
    43. Jean-Michel Grandmont & Yves Younes, 1972. "On the Role of Money and the Existence of a Monetary Equilibrium," Review of Economic Studies, Oxford University Press, vol. 39(3), pages 355-372.
    44. Kurz, Mordecai, 1974. "Equilibrium with transaction cost and money in a single market exchange economy," Journal of Economic Theory, Elsevier, vol. 7(4), pages 418-452, April.
    45. Bewley, Truman, 1977. "The permanent income hypothesis: A theoretical formulation," Journal of Economic Theory, Elsevier, vol. 16(2), pages 252-292, December.
    46. Perlman, Morris, 1971. "The Roles of Money in an Economy and the Optimum Quantity of Money," Economica, London School of Economics and Political Science, vol. 38(151), pages 233-252, August.
    47. Brock, William A, 1974. "Money and Growth: The Case of Long Run Perfect Foresight," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 15(3), pages 750-777, October.
    48. Starr, Ross M, 1974. "The Price of Money in a Pure Exchange Monetary Economy with Taxation," Econometrica, Econometric Society, vol. 42(1), pages 45-54, January.
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