Global Uniqueness and Money Non-Neutrality in a Walrasian Dynamics without Rational Expectations
We define a non-tâtonnement dynamics in continuous-time for pure-exchange economies with outside and inside fiat money. Traders are myopic, face a cash-in-advance constraint and play dominant strategies in a short-run monetary strategic market game involving the limit-price mechanism. The profits of...
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| Format: | Journal article |
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2010
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