Items related to Why is there Money?: Walrasian General Equilibrium...

Why is there Money?: Walrasian General Equilibrium Foundations of Monetary Theory - Hardcover

 
9781848448568: Why is there Money?: Walrasian General Equilibrium Foundations of Monetary Theory

Synopsis

The microeconomic foundation of the theory of money has long represented a puzzle to economic theory. Why is there Money? derives the foundations of monetary theory from advanced price theory in a mathematically precise family of trading post models.



It has long been recognized that the fundamental theoretical analysis of a market economy is embodied in the Arrow-Debreu-Walras mathematical general equilibrium model, with one great deficiency: the analysis cannot accommodate money and financial institutions. In this groundbreaking book, Ross M. Starr addresses this problem directly, by expanding the Arrow-Debreu model to include a multiplicity of trading opportunities, with the resultant endogenous derivation of money as the carrier of value among them. This fundamental breakthrough is achieved while maintaining the Walrasian general equilibrium price-theoretic structure, augmented primarily by the introduction of separate bid and ask prices reflecting transaction costs. The result is foundations of monetary theory consistent with and derived from modern price theory.



This fascinating book will provide a stimulating and thought-provoking read for academics and postgraduate students focusing on economics, macroeconomics, macroeconomic policy and finance, money and banking. Central bankers will also find much to interest them within this book.



Contents:
Introduction: Why is There No Money?
1. Why is There Money?
2. An Economy Without Money
3. The Trading Post Model
4. An Elementary Linear Example: Liquidity Creates Money
5. Absence of Double Coincidence of Wants is Essential to Monetization in a Linear Economy
6. Uniqueness of Money: Scale Economy and Network Externality
7. Monetization of General Equilibrium
8. Government-Issued Fiat Money
9. Efficient Structure of Exchange
10. Microfoundations of Jevons's Double Coincidence Condition
11. Commodity Money Equilibrium in a Convex Trading Post Economy
12. Efficiency of Commodity Money Equilibrium
13. Alternative Models
14. Conclusion and a Research Agenda
Bibliography
Index

"synopsis" may belong to another edition of this title.

About the Author

Ross M. Starr, University of California, San Diego, US

"About this title" may belong to another edition of this title.

Buy Used

160 S. Ehem. Bibliotheksexemplar...
View this item

£ 13.90 shipping from Germany to U.S.A.

Destination, rates & speeds

Other Popular Editions of the Same Title

9781781002919: Why is there Money?: Walrasian General Equilibrium Foundations of Monetary Theory

Featured Edition

ISBN 10:  1781002916 ISBN 13:  9781781002919
Publisher: Edward Elgar Publishing Ltd, 2013
Softcover

Search results for Why is there Money?: Walrasian General Equilibrium...

Seller Image

Starr, Ross M.:
Published by Cheltenham, E, 2012
ISBN 10: 1848448562 ISBN 13: 9781848448568
Used Hardcover

Seller: Antiquariat Bookfarm, Löbnitz, Germany

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Hardcover. 160 S. Ehem. Bibliotheksexemplar mit Signatur und Stempel. GUTER Zustand, ein paar Gebrauchsspuren. Ex-library with stamp and library-signature. GOOD condition, some traces of use. w15947 9781848448568 Sprache: Englisch Gewicht in Gramm: 550. Seller Inventory # 2434092

Contact seller

Buy Used

£ 17.95
Convert currency
Shipping: £ 13.90
From Germany to U.S.A.
Destination, rates & speeds

Quantity: 1 available

Add to basket

Stock Image

Ross M. Starr
Published by Edward Elgar Publishing Limited, 2012
ISBN 10: 1848448562 ISBN 13: 9781848448568
New Hardcover

Seller: Books Puddle, New York, NY, U.S.A.

Seller rating 4 out of 5 stars 4-star rating, Learn more about seller ratings

Condition: New. pp. 176. Seller Inventory # 2697363326

Contact seller

Buy New

£ 36.16
Convert currency
Shipping: £ 2.98
Within U.S.A.
Destination, rates & speeds

Quantity: 1 available

Add to basket

Stock Image

Starr Ross M.
Published by Edward Elgar Publishing Limited, 2012
ISBN 10: 1848448562 ISBN 13: 9781848448568
New Hardcover

Seller: Majestic Books, Hounslow, United Kingdom

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Condition: New. pp. 176 Illus. Seller Inventory # 96082593

Contact seller

Buy New

£ 35.68
Convert currency
Shipping: £ 6.50
From United Kingdom to U.S.A.
Destination, rates & speeds

Quantity: 1 available

Add to basket

Stock Image

Starr Ross M.
Published by Edward Elgar Publishing Limited, 2012
ISBN 10: 1848448562 ISBN 13: 9781848448568
New Hardcover

Seller: Biblios, Frankfurt am main, HESSE, Germany

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Condition: New. pp. 176. Seller Inventory # 1897363316

Contact seller

Buy New

£ 38.26
Convert currency
Shipping: £ 8.65
From Germany to U.S.A.
Destination, rates & speeds

Quantity: 1 available

Add to basket

Stock Image

Starr, Ross M.
Published by Edward Elgar Publishing, 2012
ISBN 10: 1848448562 ISBN 13: 9781848448568
Used Hardcover

Seller: Book Emporium 57, Ottawa, ON, Canada

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Hardcover. Condition: Very Good. 160 pgs. No underlining or highlighting. Seller Inventory # ABE-1677882394600

Contact seller

Buy Used

£ 26.13
Convert currency
Shipping: £ 33.57
From Canada to U.S.A.
Destination, rates & speeds

Quantity: 1 available

Add to basket

Stock Image

Ross M. Starr
Published by Edward Elgar Publishing, 2012
ISBN 10: 1848448562 ISBN 13: 9781848448568
New Hardcover

Seller: PBShop.store UK, Fairford, GLOS, United Kingdom

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

HRD. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # FW-9781848448568

Contact seller

Buy New

£ 102.20
Convert currency
Shipping: £ 4.16
From United Kingdom to U.S.A.
Destination, rates & speeds

Quantity: 3 available

Add to basket

Stock Image

Ross M. Starr
Published by Edward Elgar Publishing Ltd, 2012
ISBN 10: 1848448562 ISBN 13: 9781848448568
New Hardcover

Seller: Kennys Bookshop and Art Galleries Ltd., Galway, GY, Ireland

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Condition: New. 2012. Hardback. . . . . . Seller Inventory # V9781848448568

Contact seller

Buy New

£ 112.48
Convert currency
Shipping: £ 9.12
From Ireland to U.S.A.
Destination, rates & speeds

Quantity: 1 available

Add to basket

Stock Image

Ross M. Starr
Published by Edward Elgar Publishing Ltd, 2012
ISBN 10: 1848448562 ISBN 13: 9781848448568
New Hardcover

Seller: THE SAINT BOOKSTORE, Southport, United Kingdom

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Hardback. Condition: New. New copy - Usually dispatched within 4 working days. 439. Seller Inventory # B9781848448568

Contact seller

Buy New

£ 109.83
Convert currency
Shipping: £ 15.14
From United Kingdom to U.S.A.
Destination, rates & speeds

Quantity: 2 available

Add to basket

Stock Image

Starr, Ross
Published by Edward Elgar Pub, 2012
ISBN 10: 1848448562 ISBN 13: 9781848448568
New Hardcover

Seller: Revaluation Books, Exeter, United Kingdom

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Hardcover. Condition: Brand New. 160 pages. 9.25x6.25x0.75 inches. In Stock. Seller Inventory # __1848448562

Contact seller

Buy New

£ 101.69
Convert currency
Shipping: £ 25
From United Kingdom to U.S.A.
Destination, rates & speeds

Quantity: 2 available

Add to basket

Seller Image

Ross M. Starr
Published by Edward Elgar Publishing Ltd, GB, 2012
ISBN 10: 1848448562 ISBN 13: 9781848448568
New Hardcover

Seller: Rarewaves.com USA, London, LONDO, United Kingdom

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Hardback. Condition: New. The microeconomic foundation of the theory of money has long represented a puzzle to economic theory. Why is there Money? derives the foundations of monetary theory from advanced price theory in a mathematically precise family of trading post models. It has long been recognized that the fundamental theoretical analysis of a market economy is embodied in the Arrow-Debreu-Walras mathematical general equilibrium model, with one great deficiency: the analysis cannot accommodate money and financial institutions. In this groundbreaking book, Ross M. Starr addresses this problem directly, by expanding the Arrow-Debreu model to include a multiplicity of trading opportunities, with the resultant endogenous derivation of money as the carrier of value among them. This fundamental breakthrough is achieved while maintaining the Walrasian general equilibrium price-theoretic structure, augmented primarily by the introduction of separate bid and ask prices reflecting transaction costs. The result is foundations of monetary theory consistent with and derived from modern price theory. This fascinating book will provide a stimulating and thought-provoking read for academics and postgraduate students focusing on economics, macroeconomics, macroeconomic policy and finance, money and banking. Central bankers will also find much to interest them within this book. Contents: Introduction: Why is There No Money? 1. Why is There Money? 2. An Economy Without Money 3. The Trading Post Model 4. An Elementary Linear Example: Liquidity Creates Money 5. Absence of Double Coincidence of Wants is Essential to Monetization in a Linear Economy 6. Uniqueness of Money: Scale Economy and Network Externality 7. Monetization of General Equilibrium 8. Government-Issued Fiat Money 9. Efficient Structure of Exchange 10. Microfoundations of Jevons's Double Coincidence Condition 11. Commodity Money Equilibrium in a Convex Trading Post Economy 12. Efficiency of Commodity Money Equilibrium 13. Alternative Models 14. Conclusion and a Research Agenda Bibliography Index. Seller Inventory # LU-9781848448568

Contact seller

Buy New

£ 139.81
Convert currency
Shipping: FREE
From United Kingdom to U.S.A.
Destination, rates & speeds

Quantity: 1 available

Add to basket

There are 4 more copies of this book

View all search results for this book