We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Disequilibrium, Reproduction and Money: a Classical Approach.
- Authors
Benetti, Carlo; Bidard, Christian; Klimovsky, Edith; Rebeyrol, Antoine
- Abstract
We consider a bisector reproduction model in which money is introduced as a pure means of exchange issued by a bank at the producers' requests. Each capitalist aims at maximizing accumulation in his own sector. Their plans are based on available quantities and expected prices. Effective prices are determined by a market mechanism. Temporary disequilibria occur in both physical and monetary terms. The settlement of the monetary balances is operated by means of a transfer of capital goods. Final allocations and effective productions are thus determined. The dynamics of the economy are those of a sequence of temporary disequilibria and let appear several possibilities (local or global stability, cycles) depending on the values of the parameters.
- Subjects
ECONOMIC equilibrium; INVESTORS; INDUSTRIAL equipment; MONEY; BANKING industry
- Publication
Metroeconomica, 2014, Vol 65, Issue 3, p524
- ISSN
0026-1386
- Publication type
Article
- DOI
10.1111/meca.12051