B. R. Ambedkar University, Delhi
We investigate the existence of a monetary equilibrium in a model
which has no role for money as a medium of ex-change in the temporary
equilibrium framework of Grandmont (1977) and Grandmont and Younes
(1972). We demonstrate the importance of bounds on agents’ price
expectations for the existence in this model of an equilibrium with a
strictly positive value of money.
Date: March 20, 2012
Time: 03:00 P.M.
AMEX Conference Room (Second Floor)
Department of Economics,
Delhi School of Economics,
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