Non-connectedness of the set of equilibrium money prices: The static economy (Q581197)
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scientific article; zbMATH DE number 4018719
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| English | Non-connectedness of the set of equilibrium money prices: The static economy |
scientific article; zbMATH DE number 4018719 |
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Non-connectedness of the set of equilibrium money prices: The static economy (English)
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1987
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A static economy in which nominal taxes and transfers are balanced, under certain conditions, has a set of equilibrium money prices containing a proper interval. Two examples are given in which the entire set must consist of a proper interval. Then, an example is presented in which the set of equilibrium money prices is not connected. While the set contains a proper interval for balanced fiscal policies, the entire set is not in general a single interval.
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taxation
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equilibrium money prices
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balanced fiscal policies
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0.8782761096954346
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0.8618820309638977
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0.7122695446014404
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0.7097143530845642
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