Macroeconomic Asset Pricing
We have seen, in the preceding Ch.27, how it is possible to introduce ‘fiat’ money in general equilibrium models, in particular in OLG models. Now, we shall review two macroeconomic monetary models; the main reason is the introduction of monetary asset price models, since in the last twenty years, or so, models of asset prices, in a general equilibrium perspective, have been largely employed in econometric applications.
KeywordsIncome Rium Oligopoly
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