Interaction of money demand and money supply in non-Walrasian economics
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F12%3A00192635" target="_blank" >RIV/62156489:43110/12:00192635 - isvavai.cz</a>
Result on the web
—
DOI - Digital Object Identifier
—
Alternative languages
Result language
angličtina
Original language name
Interaction of money demand and money supply in non-Walrasian economics
Original language description
This paper presents an alternative approach to dealing with interaction of money demand and money supply, based on assumptions of non-Walrasian economics. Classical contributions to the theory of market equilibrium (Say, 1880), Walras (1874) emphasize the long-term equality of money demand and money supply, i.e. markets clear through immediate price adjustment process, and all agents are in the market satisfied. However, as Clower, (1965), Patinkin (1965) and Leijonhfvud (1968) showed in their pioneering work on disequilibrium theory that markets may not clear and demand supply imbalances in one market can have a spill-over effect into another market. I therefore try to provide a short review of literature on Walrasian and non-Walrasian approaches to economics and outline an approach to modeling disequilibrium in the monetary sector.
Czech name
—
Czech description
—
Classification
Type
D - Article in proceedings
CEP classification
AH - Economics
OECD FORD branch
—
Result continuities
Project
—
Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2012
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
PEFnet 2012
ISBN
978-80-7375-669-7
ISSN
—
e-ISSN
—
Number of pages
6
Pages from-to
1-6
Publisher name
Mendel University in Brno
Place of publication
Brno
Event location
Brno
Event date
Jan 1, 2012
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
—