MONEY AND PRODUCTION, AND LIQUIDITY TRAP BY PRADEEP DUBEY and JOHN GEANAKOPLOS COWLES FOUNDATION PAPER NO. 1200 COWLES FOUNDATION FOR RESEARCH IN ECONOMICS
نویسندگان
چکیده
We prove the existence of monetary equilibrium in a finite horizon economy with production. We also show that if agents expect the monetary authority to significantly decrease the supply of bank money available for short-term loans in the future, then the economy will fall into a liquidity trap today.
منابع مشابه
Money and Production, and Liquidity Trap
We prove the existence of monetary equilibrium in a finite horizon economy with production. We also show that if agents expect the monetary authority to significantly decrease the supply of bank money available for short term loans in the future, then the economy will fall into a liquidity trap today.
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