Intertemporal Complementarity and Money in an Economy out of Equilibrium
The role of money clearly stands up in a truly irreversible process of economic change, like the building up of an altogether new productive capacity. Money has an essential role in this process, although not in the usual sense of modifying the real equilibria of the economy. As a matter of fact the problem to be faced in the context considered--where focus is on the process of change in itself rather than on its outcome--is the viability of the process of change. This paper shows that it is indeed the availability of financial resources at the right moment during the process that determines its viability, and that this stresses the fact that, out of equilibrium, real choices cannot be separated from financial decisions.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 2 (1992)
Issue (Month): 2 (August)
|Contact details of provider:|| Web page: http://link.springer.de/link/service/journals/00191/index.htm |
|Order Information:||Web: http://link.springer.de/orders.htm|
When requesting a correction, please mention this item's handle: RePEc:spr:joevec:v:2:y:1992:i:2:p:131-45. 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: (Guenther Eichhorn)or (Christopher F Baum)
If references are entirely missing, you can add them using this form.