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Demand for cash balances in a cashless economy

✍ Scribed by Richard Dusansky; Çağatay Koç


Book ID
114826619
Publisher
John Wiley and Sons
Year
2009
Tongue
English
Weight
138 KB
Volume
5
Category
Article
ISSN
1742-7355

No coin nor oath required. For personal study only.


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This paper introduces sufficient conditions for the existence of deterministic cycles and chaos in cash-in-advance models, building on the earlier work of . Chaotic equilibria are shown to be particularly likely in the cash-in-advance model, because of a unique characteristic of such models: a disco