A Course in Monetary Economics: Sequential Trade, Money, and by Benjamin Eden PDF

By Benjamin Eden

ISBN-10: 0631215662

ISBN-13: 9780631215660

Книга A path in financial Economics: Sequential exchange, funds, and Uncertainity A path in financial Economics: Sequential exchange, cash, and UncertainityКниги Экономика Автор: Benjamin Eden Год издания: 2004 Формат: pdf Издат.:Wiley-Blackwell Страниц: 424 Размер: 2 ISBN: 0631215662 Язык: Английский0 (голосов: zero) Оценка:Monetary Economics and Sequential exchange is an insightful advent to the complicated subject matters in financial economics. available to scholars who've mastered the diagrammatic instruments of economics, it discusses actual concerns with various modeling choices, making an allowance for an immediate comparability of the results of the various types. The exposition is obvious and logical, offering a high-quality origin in financial conception and the options of monetary modeling. The textual content is rooted within the author's years of training and learn, and may be hugely appropriate for financial economics classes in either the upper-level undergraduate and graduate degrees.

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Книга A path in financial Economics: Sequential alternate, funds, and Uncertainity A path in financial Economics: Sequential exchange, cash, and UncertainityКниги Экономика Автор: Benjamin Eden Год издания: 2004 Формат: pdf Издат. :Wiley-Blackwell Страниц: 424 Размер: 2 ISBN: 0631215662 Язык: Английский0 (голосов: zero) Оценка:Monetary Economics and Sequential alternate is an insightful advent to the complex subject matters in financial economics.

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If P solves the equilibrium condition f (M/P) = ρ then 2P solves f (2M/2P) = ρ. What will happen if the government announces a policy of doubling the money supply each month? We will see that this thought experiment is not trivial. We start from some technical aspects of this question. 7 CHANGE IN THE RATE OF MONEY SUPPLY CHANGE: TECHNICAL ASPECTS We start from the continuous time case which is a useful approximation for the discrete time case used in the theoretical analysis which follows. 29) where M denotes the (per agent) money supply and μ is the rate of change in the money supply.

Alternatively, when the amount of money held by each individual is observable and lump sum taxes are possible, the government may pay interest on the holding of money. Under this subsidy scheme, an agent who increases his holding of money permanently by giving up current corn consumption, will get interest in addition to the increase in the flow of liquidity services. The slope of the budget line in the (Ct , Cp ) plane is now: f (m) + r, and the new equilibrium level of real balances must satisfy: f (m) + r = ρ.

8. Consider now the case in which all the agents in the economy lost money or paid some money as lump sum taxes to the government. In this case, they will all try to move to point B by selling corn for money. Since the money supply is constant, this leads only to a decline in the price level. A new equilibrium is achieved with the same level of real balances and the same level of corn consumption. 9 illustrates this case: If everyone tries to accumulate real balances and move to point B they will actually move along the 45 degrees line and reach point E.

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A Course in Monetary Economics: Sequential Trade, Money, and Uncertainity by Benjamin Eden


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