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On the Short-Run Equilibrium in a Monetary Economy

  • Jean-Michel Grandmont
Part of the International Economic Association Series book series (IEA)

Abstract

A model of an exchange economy is presented where money is the only asset. It is shown that, under some assumptions, a short-run equilibrium exists if the traders’ price expectations do not depend ‘too much’ on current prices.

Keywords

Price System Monetary Economy Current Prex Price Expectation Money Balance 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes

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Copyright information

© International Economic Association 1974

Authors and Affiliations

  • Jean-Michel Grandmont
    • 1
  1. 1.CepremapParisFrance

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