Screen LibraryWhy is there money?：Walrasian general equilibrium foundations of monetary theory
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| Main Authors: | |
|---|---|
| Corporate Authors: | |
| Published: |
Edward Elgar,
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| Publisher Address: | Cheltenham, U.K. |
| Publication Dates: | 2012. |
| Literature type: | Book |
| Language: | English |
| Subjects: | |
| Carrier Form: | xi, 160 p.: ill. ; 23 cm. |
| ISBN: |
9780857938060 (e-book) 0857938061 (e-book) 9781848448568 (hardback) 1848448562 (hardback) |
| Index Number: | F820 |
| CLC: | F820.1 |
| Call Number: | F820.1/S796 |
| Contents: |
Includes bibliographical references and index. 1. Why is there money? -- 2. An economy without money -- 3. The trading post model -- 4. An elementary linear example : liquidity creates money -- 5. Absence of double coincidence of wants is essential to monetization in a linear economy -- 6. Uniqueness of money : scale economy and network externality -- 7. Monetization of general equilibrium -- 8. Government-issued fiat money -- 9. Efficient structure of exchange -- 10. Microfoundations of Jevons's double coincidence condition -- 11. Commodity money equilibrium in a convex trading post economy -- 12. Efficiency of commodity money equilibrium -- 13. Alternative models -- 14. Conclusion and a research agenda. The microeconomic foundation of the theory of money has long represented a puzzle to economic theory. Why is there Money? derives the foundations of monetary theory from advanced price theory in a mathematically precise family of trading post models. |