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Money and General Equilibrium

In: Money and Employment

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  • Louise Davidson

Abstract

In order to have a meaningful discussion of whether the concept of money can be given a meaningful role in any general equilibrium theory, it is essential to explain specifically what is meant by ‘money’ and what is meant by a ‘general equilibrium’ (hereafter GE) system. Much of the confusion in professional discussions occurs because these terms are often used differently by different economists — and unfortunately even by the same economist to mean different things at different times and places.

Suggested Citation

  • Louise Davidson, 1990. "Money and General Equilibrium," Palgrave Macmillan Books, in: Louise Davidson (ed.), Money and Employment, chapter 12, pages 196-217, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11513-6_13
    DOI: 10.1007/978-1-349-11513-6_13
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