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The Structure of Exchange in Barter and Monetary Economies

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  • Ross M. Starr

Abstract

I. Transactions and money in general equilibrium models, 290. — II. Representation of equilibrium and exchange, 292. — III. The barter economy, 293. — IV. The money economy, 297. — V. Relation of monetary to barter exchange, 299. — VI. Behavior of money balances, 300. — VII. Conclusion, 301.

Suggested Citation

  • Ross M. Starr, 1972. "The Structure of Exchange in Barter and Monetary Economies," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 86(2), pages 290-302.
    • Handle: RePEc:oup:qjecon:v:86:y:1972:i:2:p:290-302.
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    Cited by:

    1. Camera, Gabriele & Gioffré, Alessandro, 2014. "Game-theoretic foundations of monetary equilibrium," Journal of Monetary Economics, Elsevier, vol. 63(C), pages 51-63.
    2. Liang Li, 2019. "Data and market definition of Internet-based businesses," Competition and Regulation in Network Industries, , vol. 20(1), pages 54-85, March.
    3. Gabriele Camera & Dror Goldberg & Avi WeissBar-Ilan, 2020. "Endogenous Market Formation and Monetary Trade: An Experiment," Journal of the European Economic Association, European Economic Association, vol. 18(3), pages 1553-1588.
    4. Ostroy, Joseph M & Starr, Ross M, 1974. "Money and the Decentralization of Exchange," Econometrica, Econometric Society, vol. 42(6), pages 1093-1113, November.
    5. Fregert, Klas, 2015. "Heckscher on the Slow Monetization of Sweden and His Incidental Refutation of Jevons and Menger," Working Papers 2015:23, Lund University, Department of Economics, revised 14 Oct 2015.
    6. Richard B. Goud Jr., 2002. "Inter-Firm Non-Monetary Transactions in Russia: A Literature Review," Development and Comp Systems 0207001, University Library of Munich, Germany.
    7. Sjur Didrik Flåm, 2013. "Reaching Market Equilibrium Merely by Bilateral Barters," CESifo Working Paper Series 4504, CESifo.
    8. Saaty, Thomas L. & Shang, Jennifer S., 2011. "An innovative orders-of-magnitude approach to AHP-based mutli-criteria decision making: Prioritizing divergent intangible humane acts," European Journal of Operational Research, Elsevier, vol. 214(3), pages 703-715, November.
    9. Grossman, Herschel I., 1991. "Monetary economics : A review essay," Journal of Monetary Economics, Elsevier, vol. 28(2), pages 323-345, October.
    10. Prentice, Barry E. & Tyrchniewicz, E. W., 1986. "Agricultural Countertrade: Perspectives, Economics, and Canadian Commercial Policy," Working Papers 243999, Agriculture and Agri-Food Canada.
    11. Bewley, Truman, 1983. "A Difficulty with the Optimum Quantity of Money," Econometrica, Econometric Society, vol. 51(5), pages 1485-1504, September.
    12. Iwai, Katsuhito, 1996. "The bootstrap theory of money: A search-theoretic foundation of monetary economics," Structural Change and Economic Dynamics, Elsevier, vol. 7(4), pages 451-477, December.
    13. James Tobin, 1992. "Money (for New Palgrave Money and Finance)," Cowles Foundation Discussion Papers 1013, Cowles Foundation for Research in Economics, Yale University.
    14. Paul J. Madden, 1975. "Efficient Sequences of Non-Monetary Exchange," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 42(4), pages 581-596.
    15. J. Deride & A. Jofr'e & R. T. Rockafellar, 2023. "Reaching an equilibrium of prices and holdings of goods through direct buying and selling," Papers 2305.17577, arXiv.org.
    16. Jean-Pascal Benassy, 1976. "Théorie du déséquilibre et fondements micro-économiques de la macroéconomie," Revue Économique, Programme National Persée, vol. 27(5), pages 755-804.
    17. J.Stephen Ferris & J. A. Galbraith, 2003. "Could Non-redeemable Money have Evolved Naturally from Commodity Money under Free Banking? – revised version: On Hayek’s Denationalization of Money, Free Banking and Inflation Targeting," Carleton Economic Papers 03-09, Carleton University, Department of Economics, revised Jun 2006.
    18. Yu Awaya & Hiroki Fukai & Makoto Watanabe, 2021. "A Model Of Collateral: Endogenizing The Borrowing Constraint," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 62(3), pages 1131-1151, August.
    19. Maria Bigoni & Gabriele Camera & Marco Casari, 2019. "Cooperation among strangers with and without a monetary system," Working Papers 19-01, Chapman University, Economic Science Institute.
    20. Flåm, Sjur Didrik & Gramstad, Kjetil, 2012. "Direct Exchange in Linear Economies," Working Papers in Economics 05/12, University of Bergen, Department of Economics.
    21. Ross M. Starr, 2012. "Why is there Money?," Books, Edward Elgar Publishing, number 13763.

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