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The distributions of income and wealth in countries across the world are found to possess some robust and stable features independent of the specific economic, social and political conditions of the countries. We discuss a few physics-inspired multi-agent dynamic models along with their...
Persistent link: https://www.econbiz.de/10010299490
inception of the euro. We derive a money demand equation that incorporates housing wealth and collateral as well as substitution … effects on real money holdings. Empirically, we show that cross-country differences in real balances are determined not only … by income differences, a standard determinant of money demand, but also by house price developments. Higher house prices …
Persistent link: https://www.econbiz.de/10010300298
criticized for failing to explain common trends in money growth and inflation, and that therefore money should be used as a cross …
Persistent link: https://www.econbiz.de/10010303717
. Money as a social representative of value, therefore, is introduced at the very beginning of Marx.s microeconomics. Marx ….s rejection of Ricardo.s interpretation of Say.s Law requires that money as a means of circulation and as a means of payment is … profits for the capitalist class as a whole requires money advances, which have to increase by means of rising credit in a …
Persistent link: https://www.econbiz.de/10010306782
population-level interactions. I apply this framework on the case of money, analyzing the emotions that go along with the use of … money, and presenting a stylized account of the emergence of money in terms of the naturalized Searle-Aoki model. In this … view, money is a neuronally anchored metaphor for emotions relating with social exchange and reciprocity. Money as a meme …
Persistent link: https://www.econbiz.de/10010307556
applied on the institution of money, analyzing its emergence as a cognitive novelty that activates universal neuronal …
Persistent link: https://www.econbiz.de/10010307558
's key variable, the quantity of money …
Persistent link: https://www.econbiz.de/10011390724
It is then argued that, whereas Monetarism brought about a revival of the quantity theory of money from the limbo into …
Persistent link: https://www.econbiz.de/10011390725
rate and money growth in influencing economic outcomes are emphasised. Today's standard DSGE approach to modelling …
Persistent link: https://www.econbiz.de/10011390730
An evolutionary model of the bank size distribution is presented based on the exchange and expansion of deposit money … theory is to regard the creation of money as a slow process compared to exchange processes of deposit money. The exchange of …
Persistent link: https://www.econbiz.de/10010324121