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Diane Publishing Books
Limited Participation and the Neutrality of Money: A Reprint from the Journal, “Economic Quarterly”
Stephen D. Williamson (au)
An exploration of limited participation models reviews the literature & plots some new directions of research in this area. Author Stephen D. Williamson constructed & modified a baseline cash-in-advance model to illustrate the main ideas. The model shows how limited participation can explain the liquidity effect & non-neutralities of money arising from the distribution effects of monetary policy actions. Illustrations.
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