Accession Number:

ADA026611

Title:

A Dynamic Economy with Shares, Fiat, Bank and Accounting Money,

Descriptive Note:

Corporate Author:

YALE UNIV NEW HAVEN CONN COWLES FOUNDATION FOR RESEARCH IN ECONOMICS

Personal Author(s):

Report Date:

1976-05-25

Pagination or Media Count:

51.0

Abstract:

This paper is aimed at exposition and modeling several of the extremely detailed but necessary aspects of a closed competitive economy without a terminal time point, i.e. an economy which is closed with regard to trade and competitors at any point of time but is an infinite-horizon economy or is open ended with respect to time. Particular attention is paid to invariant competitive equilibria, or in other words competitive equilibria which can repeat themselves over time. A number of simple models are studied which have just enough ingredients to expose the meaning of a couple of crucial assumptions.

Subject Categories:

  • Economics and Cost Analysis
  • Operations Research

Distribution Statement:

APPROVED FOR PUBLIC RELEASE