Abstract
In spite of the importance of money in actual economies, explaining why consumers have a demand for an asset which is dominated in return by other assets in the economy has been a traditional challenge for economic theory. Among many other monetary theorists, Keynes [49] proposed a detailed list of reasons why a typical consumer might demand money, including a precautionary reason or its role as facilitating transactions, which capture the role of money as a store of value and as a medium of exchange, respectively.
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© 2009 Springer-Verlag Berlin Heidelberg
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Novales, A., Fernández, E., Ruiz, J. (2009). Growth in Monetary Economies: Steady-State Analysis of Monetary Policy. In: Economic Growth. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-68669-9_8
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DOI: https://doi.org/10.1007/978-3-540-68669-9_8
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Online ISBN: 978-3-540-68669-9
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