Showing 1 - 8 of 8
Persistent link: https://www.econbiz.de/10003187166
Persistent link: https://www.econbiz.de/10001761442
Nicolas Dutot (1684–1741) is an important figure for the history of economic thought, as a pioneer in monetary theory and price statistics, and for economic history as a chronicler of John Law’s System. Yet until recently very little about him was known, some of it incorrect. I present...
Persistent link: https://www.econbiz.de/10008636085
Western Europe was plagued with currency shortages from the 14th century, at which a 'standard formula' had been devised to cure the problem. We use a cash-in-advance model of commodity money to define a currency shortage, show that they could develop and persist under commodity money regime,...
Persistent link: https://www.econbiz.de/10005410927
Household investment, that is investment in consumer durables and housing, leads non-residential fixed investment over the U.S. business cycle. This observation represents a potent challenge to real business cycle (RBC) theory. First of all the theory has been unable to account for it. In...
Persistent link: https://www.econbiz.de/10005419969
We study what features an economic environment might possess, such that it would be Pareto efficient for the exchange of goods in that environment to be conducted on spot markets where those goods trade for money. We prove a conjecture that is essentially due to Bewley [1980,1983]. Monetary spot...
Persistent link: https://www.econbiz.de/10005420025
Persistent link: https://www.econbiz.de/10005519111
Western Europe was plagued with currency shortages from the 14th to the 19th century, at which time a `standard formula' had been devised to cure the problem. We document the evolution of mon- etary theory, policy experiments and minting tech- nology over the course of six hundred years. In a...
Persistent link: https://www.econbiz.de/10005724368