SFB 303 Discussion Paper No. A - 232

Author: Magill, Michael, and Martine Quinzii
Title: Real Effects of Money in General Equilibrium
Abstract: This paper studies a simple stochastic general equilibrium model with money and nominal assets. We examine the role of money as a medium of exchange and as a store of value and give conditions under which local changes in the money supply lead to local changes in the equilibrium allocation.
Keywords: Exchange economy, Market transaction and money, Monetary equilibrium, Real effects of monetary policy
JEL-Classification-Number: 21,313,432
Creation-Date: April 1989
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