dc.contributor.author | Hoog, Sander van der | de |
dc.date.accessioned | 2011-11-23T10:29:00Z | de |
dc.date.accessioned | 2012-08-29T23:08:37Z | |
dc.date.available | 2012-08-29T23:08:37Z | |
dc.date.issued | 2008 | de |
dc.identifier.uri | http://www.ssoar.info/ssoar/handle/document/27741 | |
dc.description.abstract | The purpose of this paper is to study the dynamic behavior of a sequential monetary exchange
economy. Transactions take place sequentially against non-equilibrium prices, there is quantity
rationing, and credit or cash are the only means of exchange. Agents have optimistic or pes-
simistic expectations about quantity constraints that represent their beliefs about future trading
opportunities. In the credit model the agents incur debts along the transition path towards equilibrium, while in the cash-in-advance model convergence takes place without the occurrence of any debts or claims. The credit mechanism is shown to act as a 'soft' correction mechanism on credit
fluctuations, while the cash-in-advance constraint acts as a 'hard' negative feedback effect driving
the prices back towards a neighborhood of a monetary cash-in-advance equilibrium. | en |
dc.language | en | de |
dc.subject.ddc | Wirtschaft | de |
dc.subject.ddc | Economics | en |
dc.subject.other | Circular exchange; Trading posts; Effective demand; Quantity expectations; Moving-horizon optimization; C61; D51; D60; E31 | |
dc.title | On the disequilibrium dynamics of sequential monetary economies | en |
dc.description.review | begutachtet (peer reviewed) | de |
dc.description.review | peer reviewed | en |
dc.source.journal | Journal of Economic Behavior & Organization | de |
dc.source.volume | 68 | de |
dc.publisher.country | NLD | |
dc.source.issue | 3-4 | de |
dc.subject.classoz | Political Economy | en |
dc.subject.classoz | Volkswirtschaftslehre | de |
dc.identifier.urn | urn:nbn:de:0168-ssoar-277411 | de |
dc.date.modified | 2011-11-29T14:24:00Z | de |
dc.rights.licence | PEER Licence Agreement (applicable only to documents from PEER project) | de |
dc.rights.licence | PEER Licence Agreement (applicable only to documents from PEER project) | en |
ssoar.gesis.collection | SOLIS;ADIS | de |
ssoar.contributor.institution | http://www.peerproject.eu/ | de |
internal.status | 3 | de |
dc.type.stock | article | de |
dc.type.document | journal article | en |
dc.type.document | Zeitschriftenartikel | de |
dc.rights.copyright | f | de |
dc.source.pageinfo | 525-552 | |
internal.identifier.classoz | 1090300 | |
internal.identifier.journal | 196 | de |
internal.identifier.document | 32 | |
internal.identifier.ddc | 330 | |
dc.identifier.doi | https://doi.org/10.1016/j.jebo.2008.06.008 | de |
dc.description.pubstatus | Postprint | en |
dc.description.pubstatus | Postprint | de |
internal.identifier.licence | 7 | |
internal.identifier.pubstatus | 2 | |
internal.identifier.review | 1 | |
internal.check.abstractlanguageharmonizer | CERTAIN | |
internal.check.languageharmonizer | CERTAIN_RETAINED | |