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La demanda excedente de dinero en un sistema de equilibrio general con un mercado de capitales, desempleo involuntario y expectativas proporcionales en precios y salarios
[The excess demand for money in a general equilibrium system with capital market expectations involuntary unemployment and proportional wage and price expectations]

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  • Rodríguez, Carlos A.

Abstract

Building on the work of Noriega (1994), this paper demonstrates how you get an excess demand for money alternative, relating the total value of production and consumption. However, unlike this paper, we use the dynamic programming method to assess consumer behavior and production function are introduced capital installation costs. According to the results, money, besides depending on the magnitude of the interest rate, the behavior of capital markets and effective demand, also be affected, albeit indirectly, by each company profits generated in its production period, the remuneration received by each consumer of its shares, the amount of product that companies want to produce, demand and labor supply and wages.

Suggested Citation

  • Rodríguez, Carlos A., 2009. "La demanda excedente de dinero en un sistema de equilibrio general con un mercado de capitales, desempleo involuntario y expectativas proporcionales en precios y salarios [The excess demand for mon," MPRA Paper 41276, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:41276
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    References listed on IDEAS

    as
    1. Lucas, Robert E, Jr & Stokey, Nancy L, 1987. "Money and Interest in a Cash-in-Advance Economy," Econometrica, Econometric Society, vol. 55(3), pages 491-513, May.
    2. Lucas, Robert E, Jr, 1980. "Equilibrium in a Pure Currency Economy," Economic Inquiry, Western Economic Association International, vol. 18(2), pages 203-220, April.
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    More about this item

    Keywords

    Monetary Theory; General Equlibrium; Mathematical Methods;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics

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