Money and Interest in a Cash-in-Advance Economy

@article{lucas-stokey-87, abstract = {In this paper we analyze an aggregate general equilibrium model in which the use of money is motivated by a cash-in-advance constraint, applied to purchases of a subset of consumption goods. The system is subject to both real and monetary shocks, which are economy-wide and observed by all. We develop methods for verifying the existence of, characterizing, and explicitly calculating equilibria.}, author = {Lucas, Robert E. and Stokey, Nancy L.}, citeulike-article-id = {1298578}, doi = {10.2307/1913597}, journal = {Econometrica}, keywords = {411-3, money}, number = {3}, pages = {491--513}, posted-at = {2007-05-16 01:18:23}, priority = {2}, title = {Money and Interest in a Cash-in-Advance Economy}, url = {http://dx.doi.org/10.2307/1913597}, volume = {55}, year = {1987} }

TY - JOUR ID - lucas-stokey-87 L3 - citeulike-article-id:1298578 N2 - In this paper we analyze an aggregate general equilibrium model in which the use of money is motivated by a cash-in-advance constraint, applied to purchases of a subset of consumption goods. The system is subject to both real and monetary shocks, which are economy-wide and observed by all. We develop methods for verifying the existence of, characterizing, and explicitly calculating equilibria. IS - 3 JF - Econometrica EP - 513 TI - Money and Interest in a Cash-in-Advance Economy VL - 55 SP - 491 KW - 411-3 KW - money AU - Lucas, Robert AU - Stokey, Nancy PY - 1987/// UR - http://dx.doi.org/10.2307/1913597 ER -