General Equilibrium in a Segmented Market Economy with Convex Transaction Cost: Existence, Efficiency, Commodity and Fiat Money

Article, Preprint English OPEN
Starr, Ross M.;
  • Publisher: eScholarship, University of California
  • Subject: general equilibrium | transaction cost | commodity money | quasi-equilibrium | commodity money, fiat money, quasi-equilibrium, general equilibrium, transaction cost | fiat money
    acm: TheoryofComputation_GENERAL | TheoryofComputation_MISCELLANEOUS

This study derives the monetary structure of transactions, the use of commodity or fiat money, endogenously from transaction costs in a segmented market general equilibrium model. Market segmentation means there are separate budget constraints for each transaction: bud... View more
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