Real Determinacy with Nominal Assets
We build a finite horizon model with inside and outside money, in which interest rates, price levels and commodity allocations are determinate, even though asset markets are incomplete and asset deliveries are purely nominal.
|Date of creation:||Jun 2003|
|Publication status:||Published in Economic Theory (2006), 27(1): 79-106|
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- Magill, M. & Quinzii, M., 1992.
"Real effects of money in general equilibrium,"
Journal of Mathematical Economics,
Elsevier, vol. 21(4), pages 301-342.
- Magill, M. & Quinzii, M., 1988. "Real Effects Of Money In General Equilibrium," Papers 8826, Southern California - Department of Economics.
- Magill,Michael & Quinzii,Martine, 1989. "Real effects of money in general equilibrium," Discussion Paper Serie A 232, University of Bonn, Germany.
- Balasko, Yves & Cass, David & Siconolfi, Paolo, 1990. "The structure of financial equilibrium with exogenous yields : The case of restricted participation," Journal of Mathematical Economics, Elsevier, vol. 19(1-2), pages 195-216. Full references (including those not matched with items on IDEAS)
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