This paper is an attempt to incorporate the human ability of recognition, especially, the ability to recognize the society to which they belong, with the economic equilibrium theory characterized by a description of society through individual rational behaviors. Contents may be classied into the...

This paper is an attempt to incorporate the human ability of recognition, especially, the ability to recognize the society to which they belong, with the economic equilibrium theory characterized by a description of society through individual rational behaviors. Contents may be classified into...

This paper studies the growth effect of money supply in the presence of increasing returns and endogenous labor supply. By using a simple model of endogenous growth with a cash-in-advance constraint, it is shown that the growth effect of money supply depends on the specifications of preference...