Price Level Volatility: A Simple Model of Money Taxes and Sunspots

Journal of Economic Theory

Volumn 81, Issue 2, 1998, Pages 401-430

  Bhattacharya, Joydeep ^a   Guzman, Mark G ^b   Shell, Karl ^c  

^a UNIVERSITY AT BUFFALO   (United States)

^b WELLESLEY COLLEGE   (United States)

^c Department of Molecular Biology and Genetics   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0007277459     PISSN: 00220531     EISSN: None     Source Type: Journal    
DOI: 10.1006/jeth.1997.2362     Document Type: Article

References (25)

1. Antinolfi G., Keister T. Options and sunspots in a simple monetary economy. Econom. Theory. 11:1998;295-315.
2. Balasko Y. Extrinsic uncertainty revisited. J. Econ. Theory. 31:1983;203-210.
3. Balasko Y., Cass D., Shell K. Market participation and sunspot equilibria. Rev. Econ. Studies. 62:1995;491-512.
4. Balasko Y., Shell K. The overlapping generations model, II: the case of pure exchange and money. J. Econ. Theory. 24:1981;112-142.
5. Balasko Y., Shell K. Lump-sum taxes and transfers: public debt in the overlapping generations model. Essays in Honor of Kenneth Arrow, Vol. II: Equilibrium Analysis. 1986;Cambridge University Press, Cambridge. p. 121-153.
6. Balasko Y., Shell K. Lump-sum taxation: The static economy. Becker R., Boldrin M., Jones R., Thomson W. General Equilibrium, Growth, and Trade: The Legacy of Lionel McKenzie, II. 1993;168-180 Academic Press, San Diego.
7. Cass D. Sunspots and incomplete financial markets: the leadingexample. Feiwel G. The Economics of Imperfect Competition and Employment: Joan Robinson and Beyond. 1989;677-693 Macmillan & Co. London.
8. Cass D., Shell K. Do sunspots matter. J. Polit. Econ. 91:1983;193-227.
9. Esteban J., Mitra T., Ray D. Efficient monetary equilibrium: An overlapping generations model with nonstationary monetary prices. J. Econ. Theory. 64:1994;372-389.
10. Fisher E. On exchange rates and efficiency. Econom. Theory. 7:1996;267-282.
11. Ghiglino C., Shell K. The economic effects of restrictions on government budget deficits. Center for Analytic Economics Working Paper 98-01. 1998.
12. Goenka A. Rationing and sunspot equilibria. J. Econ. Theory. 64:1994;424-442.
13. Goenka A., Shell K. When sunspots don't matter. Econom. Theory. 9:1997;169-178.
14. Goenka A., Shell K. On the robustness of sunspot equilibria. Econom. Theory. 10:1997;79-98.
15. Keister T. Nominal Taxation and Excess Volatility. Center for Analytic Economics Working Paper 98-02. 1998.
16. Malinvaud E. Markets for an exchange economy with individual risks. Econometrica. 41:1973;383-410.
17. Peck J., Shell K. Market uncertainty: correlated and sunspot equilibria in imperfectly competitive economies. Rev. Econ. Studies. 58:1991;1011-1029.
18. Shell K. Monnaie et allocation intertemporelle. Séminaire d'Econométrie Roy-Malinvaud. November, 1977.
19. Shell K. Sunspot equilibrium. Eatwell J., Milgate M., Newman P. The New Palgrave: A Dictionary of Economics. 1987;549-551 Macmillan & Co. New York.
20. Shell K., Smith B. D. Overlapping-generations model and monetary economics. Eatwell J., Milgate M., Newman P. The New Palgrave Dictionary of Money and Finance. 1992a;104-109 Macmillan & Co. London.
21. Shell K., Smith B. D. Sunspot equilibrium. Eatwell J., Milgate M., Newman P. The New Palgrave Dictionary of Money and Finance. 1992b;601-605 Macmillan & Co. London.
22. Shell K., Wright R. D. Indivisibilities, lotteries, and sunspot equilibria. Econom. Theory. 3:1993;1-17.
23. Villanacci A. Real indeterminacy, taxes and outside money in incomplete financial market economies: I. The case of lump sum taxes. Gori F., Geranazzo L., Galeotti M. Nonlinear Dynamics in Economics and Social Sciences. 1993;331-363 Springer-Verlag, Berlin/New York.
24. Wallace N. The overlapping generations model of fiat money. Karaken J., Wallace N. Models of Monetary Economies. 1980;49-82 Fed. Res. Bank Minneapolis.
25. Werner J. Equilibrium in economies with incomplete financial markets. J. Econ. Theory. 36:1985;110-119.