DETERMINACY WITH NOMINAL ASSETS AND OUTSIDE MONEY BY PRADEEP DUBEY and JOHN GEANAKOPLOS COWLES FOUNDATION PAPER NO. 1199 COWLES FOUNDATION FOR RESEARCH IN ECONOMICS
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چکیده
We build a finite horizon model with inside and outside money, in which interest rates, price levels and commodity allocations are determinate, even though asset markets are incomplete and asset deliveries are purely nominal.
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