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This book explores the real effects of the monetization of a stylized one-sector capital growth model driven by rational representative agents. On the one hand, it introduces the appropriate adjustment to the state variable dynamic accounting equation to reflect a (paper) cash-in-advance or trade money finance constraint in the presence of exogenous real reserve requirements. Such constraint embeds real convertibility – even if not for idle real reserves-, conformable with the role of money as b

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Author

Martins, Ana Paula

Publisher

KSP Books

Published

2018

Language

EN

ISBN

9786052132531

Category

business

Subjects

Business, Business & Economics

Updated

2026-03-25