consumption and investment expenditures, as well as their broadly defined components, are examined. We also test for effects of … money on long run reallocations of consumption expenditures among durables, nondurables, and services. The time series …This paper tests for long run effects of money on real expenditures in the U.S. over the 1959-2002 period. Real …

are found not to equal zero and this in turns affects all estimates of consumption, labor supply and saving elasticities … profit function rationalizing consumption, labor supply and savings is specified, estimated and used to test commonly … maintained separability hypotheses. Both consumption- labor and time separability are rejected. Cross-price Frisch elasticities …

are found not to equal zero and this in turns affects all estimates of consumption, labor supply and saving elasticities. … profit function rationalizing consumption, labor supply and savings is specified, estimated and used to test commonly … maintained separability hypotheses. Both consumption- labor and time separability are rejected. Cross-price Frisch elasticities …

the production and consumption decisions of the individual in one model. For each individual, it identifies the customers … customers. These relations deal with value (quantities and prices), payment (subsistence, barter, money, and bond) and …

This paper studies the gain from using money as an indicator when monetary policy in made under data uncertainty. We … state of the economy. Money reveals some of the private sector’s information to the policymaker, especially if there is a … forward looking element in money demand. We show that observing money can considerably reduce the loss that is due to …

friction for a receipt system (fiat money) to lead to improved allocations in an otherwise frictionless Walrasian model. The … experiments. Some issues regarding the divisibility of money are also discussed. …

, there is a renewed interest in the long-running debate about whether or not changes in the stock of money have direct … effects. In particular, do changes in money have additional effects on aggregate demand outside of those induced by changes in … structural model with no direct effects of money to show that the finding of positive and statistically significant coefficients …

'Reality of money' is curiously similar to uncertainty theory of (Hisenburg)quantum physics. To some (natural societies …), legitimatimacy of exchange control is derived by associating it with certain physical signifiance of 'real' goods. Exchange control … is thus decided by producers in commodity exchanges. Others (Republicans of Greek civilization) think, money can be only …