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El dinero en los modelos macroeconómicos

Author

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  • Wilfredo Toledo

    () (Universidad de Puerto Rico)

Abstract

An important challenge in monetary economics is the development of an endogenous theory of money, which introduces money in a natural way and not as an external imposition. This paper reviews different approaches that have been used in monetary economic literature, and argues that overlapping generation models and search models are the best choices.

Suggested Citation

  • Wilfredo Toledo, 2006. "El dinero en los modelos macroeconómicos," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 8(15), pages 97-116, July-Dece.
  • Handle: RePEc:rei:ecoins:v:8:y:2006:i:15:p:97-116
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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/wtoledo15.pdf
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    References listed on IDEAS

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    8. Ricardo de O. Cavalcanti & Neil Wallace, 1999. "Inside and outside money as alternative media of exchange," Proceedings, Federal Reserve Bank of Cleveland, pages 443-468.
    9. 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.
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    More about this item

    Keywords

    money; monetary economics; overlapping generations; search models;

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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