A Theory of Money and Financial Institutions. Part 36. The Money Rate of Interest (A Multiperiod Nonatomic Trading and Production Economy with Outside Money, Inside Money and Optimal Bankruptcy Rules),

Abstract

A model of trade and production through time using fiat and bank money is presented. Many of the detailed points concerning modelling of trade using fiat (= outside) and bank (= inside) money are covered elsewhere. In this paper an attempt is made to give both a self contained yet not overly discursive analysis of the roles of the two types of money and production in a multiperiod economy. The following topics are discussed: The Competitive Equilibrium and Rate of Interest; Modelling an Exchange Economy as a Game in Strategic Form; and Production and Exchange -- The finite horizon.

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Document Details

Document Type
Technical Report
Publication Date
Apr 27, 1977
Accession Number
ADA042625

Entities

People

  • Martin Shubik
  • Pradeep Dubey

Organizations

  • Yale University

Tags

Communities of Interest

  • Ground and Sea Platforms

DTIC Thesaurus Topics

  • Ashes
  • Bankruptcy
  • Commerce
  • Commodities
  • Consumers
  • Cooperative Games
  • Corporations
  • Finance
  • Governments
  • Inventory
  • Money
  • Non-Cooperative Games
  • Organizational Structure
  • Production
  • Stationary
  • United States
  • United States Government

Fields of Study

  • Economics

Readers

  • Economics
  • Game Theory.
  • Mathematical Modeling and Probability Theory.