Why is there money? : Walrasian general equilibrium foundations of monetary theory

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 external...

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Main Author: Starr, Ross M.
Corporate Author: Edward Elgar Publishing
Format: eBook
Language:English
Published: Cheltenham, U.K Edward Elgar 2012
Subjects:
Online Access:
Collection: Edward Elgar eBooks Archive 1993-2015 - Collection details see MPG.ReNa
Summary: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
Physical Description:xi, 160 p ill
ISBN:9780857938060
9781848448568