Bignon, Vincent; Alvarez, Andrés - EconomiX, Université Paris Ouest-Nanterre la Défense … - 2010
This paper shows that modern monetary theory can be better understood through the differences between Menger and Walras. Since the 1980s attempts to establish coherent microfoundations for monetary exchange have brought Menger's theory of the origin of money to the forefront and sent walrasian...