Money, expectations and the existence of a temporary equilibrium

• Main Author: HOOL, Bryce
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 1976
• Subjects: Money; Commodities; Cash; Economic expectations; Economic uncertainty; Economics; Consumer goods; Endowments; Economic theory; Media of exchange; Finance; Public Economics
• Online Access: https://ink.library.smu.edu.sg/soe_research/1772; https://ink.library.smu.edu.sg/context/soe_research/article/2771/viewcontent/MoneyExpectationsTempEquilibrium_1976.pdf
• Institution: Singapore Management University

The article presents information on money, expectations and the existance of a temporary equilibrium. If money and financial assets are to be integrated into general equilibrium theory, it is apparent that the classical Arrow-Debreu framework must be modified. As long as all trading takes place esse...