The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Money and General Equilibrium

  • Douglas Gale
Reference work entry


The study of money and general equilibrium deautility associated with the consuls with the integration of monetary theory and the classical theory of value. It includes such topics as the role of money in exchange, the determination of the price level, and the ‘real’ effects of money on the allocation of goods and services.


Cash-in-advance constraint Classical dichotomy Complete markets Excess demand Financial securities Incomplete markets Intertemporal substitution effect Money Money demand Money in general equilibrium Money supply Nominal prices Optimum quantity of money Pigou effect Real balance effect Say’s Law Stationary states Temporary equilibrium Uniform tightness property Value theory Walras’s Law Wealth effect 

JEL Classifications

D5 E4 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Douglas Gale
    • 1
  1. 1.