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On the Existence and Role of Money in a Stationary System

In: General Equilibrium Economics

Author

Listed:
  • Robert E. Kuenne

    (Princeton University)

Abstract

This brief paper seeks to examine the basis upon which the existence and use of money rests in a stationary framework. Its major innovation is to uncover a neglected cost in the circulation of goods and services — the costs of clearing accounts between economic units — and, ultimately, to ground the use of money under stationary conditions in an advantage money possesses inherently on this count over personal credit.

Suggested Citation

  • Robert E. Kuenne, 1992. "On the Existence and Role of Money in a Stationary System," Palgrave Macmillan Books, in: General Equilibrium Economics, chapter 17, pages 413-426, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-12752-8_18
    DOI: 10.1007/978-1-349-12752-8_18
    as

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