Generic Determinacy and Money Non-Neutrality of International Monetary Equilibria
I address the issue of the ‘number’ of international monetary equilibria that the international finance model of Geanakoplos and Tsomocos (2002) possesses. The mainstream competitive model has locally unique equilibria with respect to the real side of the economy; however, it manifests nominal indet...
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| Format: | Journal article |
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2008
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