Review The Role of Overlapping-Generations Models in Monetary Economics

-

The Role of Overlapping-Generations Models in Monetary Economics High quality books

The Role of Overlapping-Generations Models in Monetary Economics
By:
Published on 1984 by

The main arguments of this paper can be summarized as follows. (1) The overlapping-generations (OG) structure provides a useful framework for the analysis of macroeconomic issues involving intertemporal allocation. (2) As a |model of money, | the basic OG setup -- which excludes cash-in-advance or money-in-the-utility-function (MIUF) features -- is inadequate and misleading because it neglects the medium-of-exchange property that is the distinguishing characteristic of money. (3) That this neglect obtains is verified by noting that, in contrast with an axiomatic |traditional presumption, | the same aggregate leisure/consumption bundles are available in equilibria in which |money| is valued and valueless. (4) That the model may be misleading is demonstrated by examples in which three of its most striking properties --tenuousness of monetary equilibrium, optimality of zero money growth, and price level invariance to open-market exchanges -- disappear in the presence of modifications designed to reflect the medium-of-exchange property. (5) There is no compelling reason why cash-in-advance, MIUF, or other appendages should not be used in conjunction with the OG framework.

This Book was ranked at 6 by Google Books for keyword Monetary economics.

Book ID of The Role of Overlapping-Generations Models in Monetary Economics's Books is qM38zAEACAAJ, Book which was written by have ETAG "QU0fVP8KEnw"

Book which was published by since 1984 have ISBNs, ISBN 13 Code is and ISBN 10 Code is

Reading Mode in Text Status is false and Reading Mode in Image Status is false

Book which have " Pages" is Printed at BOOK under Category

This Book was rated by Raters and have average rate at ""

This eBook Maturity (Adult Book) status is NOT_MATURE

Book was written in en

eBook Version Availability Status at PDF is falseand in ePub is false

Book Preview

Comments

Post a Comment

Popular posts from this blog

Review The Anthropology of Cultural Performance

-
Image
The Anthropology of Cultural Performance High quality books The Anthropology of Cultural Performance By:L. Lewis Published on 2013-08-07 by Springer Contemporary life in most nation-states is not truly cultural, but rather |culture-like,| especially in large-scale societies. Beginning with a distinction between special events and everyday life, Lewis examines fundamental events including play, ritual, work, and carnival and connects personal embodied habits and large-scale cultural practices. This Book was ranked at 16 by Google Books for keyword anthropology Emergence. Book ID of The Anthropology of Cultural Performance's Books is XYOYAAAAQBAJ, Book which was written byL. Lewishave ETAG "+p1kDgRk/HY" Book which was published by Springer since 2013-08-07 have ISBNs, ISBN 13 Code is 9781137342386 and ISBN 10 Code is 1137342382 Reading Mode in Text Status is true and Reading Mode in Image Status is true Book which have "189 Pages" is Printed at BOOK under Catego...
Read more

Download Handbook of Monetary Economics. Vol. 2

-
Image
Handbook of Monetary Economics. Vol. 2 High quality books Handbook of Monetary Economics. Vol. 2 By:Benjamin M Friedman Published on 1999 by This Book was ranked at 11 by Google Books for keyword Monetary economics. Book ID of Handbook of Monetary Economics. Vol. 2's Books is oZUMzQEACAAJ, Book which was written byBenjamin M Friedmanhave ETAG "sgGiV9L2izM" Book which was published by since 1999 have ISBNs, ISBN 13 Code is and ISBN 10 Code is Reading Mode in Text Status is false and Reading Mode in Image Status is false Book which have " Pages" is Printed at BOOK under Category This Book was rated by Raters and have average rate at "" This eBook Maturity (Adult Book) status is NOT_MATURE Book was written in en eBook Version Availability Status at PDF is falseand in ePub is false Book Preview
Read more

Ebook Download Issues Concerning Nominal Anchors for Monetary Policy

-
Image
Issues Concerning Nominal Anchors for Monetary Policy High quality books Issues Concerning Nominal Anchors for Monetary Policy By:Mr. Michael Mussa,Mr. Robert P. Flood Published on 1994-05-01 by International Monetary Fund This paper presents a selective survey of issues relevant to the choice of nominal anchors for monetary policy. Section I reviews long price-level histories for the United Kingdom and United States, which reveal that the price level behaved very differently following WWII in these countries than it had done in previous post-war experiences. In particular following WWII the responsibilities of monetary policy expanded to encompass a business- cycle stabilization role and the nominal anchor shifted from the fixed anchor or price-level stability to the moving anchor of inflation-rate stability. The remaining sections of the paper review some of the considerations that are relevant to setting the average inflation rate in countries without a fixed nominal anchor. This Bo...
Read more