The Social Viability Of Money

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The Social Viability Of Money

Author : Joan Esteban
ISBN : 9783642467554
Genre : Business & Economics
File Size : 30.90 MB
Format : PDF
Download : 760
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In this book overlapping generations economies are analysed from a game theoretical point of view and the social acceptability of consumption allocations is studied in infinite horizon models of pure exchange economieswith agents with finite lifetimes who behave cooperatively. The core of such economies and its relation with competitive equilibria, both walrasian and monetary and the essential characteristics of the overlapping generations model are examined. The author defines the problem of trust in intertemporal consumption allocations as a question of belonging or not to the core of economy and provides a full characterization of the core allocations for n-goods pure exchange economies with one agent per generation: a consumption allocation belongs to the core if and only it is Pareto optimal and Sequentially Individually Rational. From this it follows that for one commodity economies no consumption allocation involving intertemporal transfers can belong to the core of the economy. In other words, no monetary equilibrium is socially viable. This result is no longer true for many goods models. For that case it is demonstrated that there exist bounds on the real value of equilibrium money purchases beyond which monetary equilibria are not socially viableand with many agents in every generation it is shown that as the economy becomes large and monetary (as well as IOU) equilibria become eventually excluded from the core of the economy. These results provide an analytical rationale for the fact that in most countries fiat money is legal tender.
Category: Business & Economics
The Social Viability of Money
Language: en
Pages: 202
Authors: Joan Esteban
Categories: Business & Economics
Type: BOOK - Published: 2012-12-06 - Publisher: Springer Science & Business Media

In this book overlapping generations economies are analysed from a game theoretical point of view and the social acceptability of consumption allocations is studied in infinite horizon models of pure exchange economieswith agents with finite lifetimes who behave cooperatively. The core of such economies and its relation with competitive equilibria,
Financial Viability of the Social Housing Sector
Language: en
Pages: 36
Authors: Great Britain: Parliament: House of Commons: Committee of Public Accounts
Categories: Law
Type: BOOK - Published: 2012-10-12 - Publisher: The Stationery Office

In December 2010, the government announced the Affordable Homes Programme, under which there is £1.8 billion capital funding in government grants to social housing providers. The Department for Communities and Local Government has overall responsibility for the Programme, which is delivered by the Homes and Communities Agency. The Department expects
The History of Money and Monetary Arrangements
Language: en
Pages: 204
Authors: Thomas Marmefelt
Categories: Business & Economics
Type: BOOK - Published: 2018-08-27 - Publisher: Routledge

Today, most money is credit money, created by commercial banks. While credit can finance innovation, excessive credit can lead to boom/bust cycles, such as the recent financial crisis. This highlights how the organization of our monetary system is crucial to stability. One way to achieve this is by separating the
Financial viability of the social housing sector
Language: en
Pages: 35
Authors: Great Britain: National Audit Office
Categories: Business & Economics
Type: BOOK - Published: 2012-07-04 - Publisher: The Stationery Office

The Affordable Homes Programme is aimed at delivering below market price housing. The development of the new funding model for affordable rent and home ownership was led by the Department for Communities and Local Government and the Homes and Communities Agency. The new Programme will be delivered by housing associations,
A Cultural History of Money in the Age of Enlightenment
Language: en
Pages: 256
Authors: Bloomsbury Publishing
Categories: History
Type: BOOK - Published: 2021-03-11 - Publisher: Bloomsbury Publishing

The Enlightenment was a time of monetary turmoil and transformation in Europe. Change began with a riot of experimentation, including novel ideas about human agency and capacity to promote economic progress, efforts to reframe divinity in terms (like the providential) compatible with market exchange, new instruments of credit, and innovative