Open AccessMoneda, intercambios efectivos y desempleo keynesiano
Author(s) -
Ludovic A. Julien
Publication year - 2009
Publication title -
lecturas de economía
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.137
H-Index - 6
eISSN - 2323-0622
pISSN - 0120-2596
DOI - 10.17533/udea.le.n59a2702
Subject(s) - economics , unemployment , keynesian economics , welfare economics , humanities , rationing , economy , philosophy , macroeconomics , economic growth , health care
This paper aims at building up a simple model of a decentralized monetary economy with Keynesian unemployment. The existence of involuntary unemployment is based on the organization of trades. Money plays a critical role in coordinating decentralized transactions in equilibrium and in disequilibrium. Without perfect expectations, trades occur out of equilibrium. However, Keynesian unemployment is essentially an equilibrium phenomenom
Accelerating Research
Robert Robinson Avenue,
Oxford Science Park, Oxford
OX4 4GP, United Kingdom
Address
John Eccles HouseRobert Robinson Avenue,
Oxford Science Park, Oxford
OX4 4GP, United Kingdom