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Real Determinacy with Nominal Assets

Author

Listed:
  • John Geanakoplos

    (Yale University, Cowles Foundation)

  • Pradeep K. Dubey

    (State University of New York, Stony Brook, Department of Economics)

Abstract

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.

Suggested Citation

  • John Geanakoplos & Pradeep K. Dubey, 2004. "Real Determinacy with Nominal Assets," Yale School of Management Working Papers ysm400, Yale School of Management.
    • Handle: RePEc:ysm:somwrk:ysm400
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    Cited by:

    1. firano, zakaria & Benbachir, Saad & Abouch, Mohammed, 2012. "Macroeconomic framework for financial stability for Morocco," MPRA Paper 43998, University Library of Munich, Germany.
    2. Charles A. E. Goodhart & Carolina Osorio & Dimitrios P. Tsomocos, 2009. "Analysis of Monetary Policy and Financial Stability: A New Paradigm," CESifo Working Paper Series 2885, CESifo.
    3. Marko Backovic & Zoran Popovic, 2012. "The Analysis Of Model Of General Economic Equilibrium And Financial Instability Of Economic System," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 8(1), pages 63-85.

    More about this item

    JEL classification:

    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General

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