Intertemporal General Equilibrium and Monetary Theory.

The introduction of banks that issue movey and supply balances and pay out their profits as dividends is the natural modification of the model of general competitive equilibrium that encompasses monetary economies. Interest rates are suitable instruments for the control of expected inflation but not of the variability of inflation. Monetary policy is also effective due to redistributive effects and nominal rigidities.

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Year of publication:	1998
Authors:	Dreze, J.H. ; Polemarchakis, H.
Institutions:	Center for Operations Research and Econometrics (CORE), École des Sciences Économiques de Louvain
Subject:	MONETARY POLICY \| ECONOMIC EQUILIBRIUM (C.O.R.E.) \| LOUVAIN-LA-NEUVE BELGIQUE. 29p

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Series:	Papers.
Type of publication:	Book / Working Paper
Classification:	D50 - General Equilibrium and Disequilibrium. General ; E40 - Money and Interest Rates. General ; E50 - Monetary Policy, Central Banking and the Supply of Money and Credit. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005634122