Indeterminacy of Equilibrium Allocations in Monetary Open Economies.

In an open economy, outside money in positive supply does not eliminate the real indeterminacy which arises under uncertainty and incomplete asset markets. If money supply is subject to shocks or is not perfectly credible in all countries, the level of a fixed exchange rate matters. Analogous results obtain in cash-in-advance models.

MoreLess

Year of publication:	1998
Authors:	Salto, M.
Institutions:	Center for Operations Research and Econometrics (CORE), École des Sciences Économiques de Louvain
Subject:	EXCHANGE RATE \| MONEY \| MARKET

Check Google Scholar |

More access options

In German libraries (KVK)

I need help

More details

Series:	Papers.
Type of publication:	Book / Working Paper
Notes:	23 pages
Classification:	D52 - Incomplete Markets ; E50 - Monetary Policy, Central Banking and the Supply of Money and Credit. General ; F41 - Open Economy Macroeconomics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005669243