Title: Growth in Monetary Economies: Steady-State Analysis of Monetary Policy
Abstract: In spite of the importance of money in actual economies, explaining why consumers have a demand for an asset which is dominated in return by other assets in the economy has been a traditional challenge for economic theory. Among many other monetary theorists, Keynes [9] proposed a detailed list of reasons why a typical consumer might demand money, including a precautionary reason or its role as facilitating transactions, which capture the role of money as a store of value and as a medium of exchange, respectively.
Publication Year: 2014
Publication Date: 2014-01-01
Language: en
Type: book-chapter
Indexed In: ['crossref']
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