Money and General Equilibrium

  • Louise Davidson


In order to have a meaningful discussion of whether the concept of money can be given a meaningful role in any general equilibrium theory, it is essential to explain specifically what is meant by ‘money’ and what is meant by a ‘general equilibrium’ (hereafter GE) system. Much of the confusion in professional discussions occurs because these terms are often used differently by different economists — and unfortunately even by the same economist to mean different things at different times and places.


General Equilibrium Excess Demand Full Employment Spot Market Monetary Economy 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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© Paul Davidson 1990

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  • Louise Davidson

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