Walrasian General Equilibrium Foundations of Monetary Theory
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.
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- Why is there Money? Walrasian General Equilibrium Foundations of Monetary Theory
- Chapter 1: Why is There Money?
- Chapter 2: An Economy Without Money
- Chapter 3: The Trading Post Model
- Chapter 4: An Elementary Linear Example: Liquidity Creates Money
- Chapter 5: Absence of Double Coincidence of Wants is Essential to Monetization in a Linear Economy
- Chapter 6: Uniqueness of Money: Scale Economy and Network Externality
- Chapter 7: Monetization of General Equilibrium
- Chapter 8: Government-Issued Fiat Money
- Chapter 9: Efficient Structure of Exchange
- Chapter 10: Microfoundations of Jevons’s Double Coincidence Condition
- Chapter 11: Commodity Money Equilibrium in a Convex Trading Post Economy
- Chapter 12: Efficiency of Commodity Money Equilibrium
- Chapter 13: Alternative Models
- Chapter 14: Conclusion and a Research Agenda
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