Liquidity, welfare and distribution
This work presents a dynamic general equilibrium model where wealth distribution is endogenous. I provide channels of causality that suggest a complex relationship between financial markets and the real activity which breaks down the classical dichotomy. As a consequence, the Friedman rule does...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Economists' Association of Vojvodina
2012-01-01
|
| Series: | Panoeconomicus |
| Subjects: | |
| Online Access: | http://www.doiserbia.nb.rs/img/doi/1452-595X/2012/1452-595X1202217M.pdf |
| id |
doaj-1054f2c33419453d9ba37f30e6b96a14 |
|---|---|
| record_format |
Article |
| spelling |
doaj-1054f2c33419453d9ba37f30e6b96a142020-11-25T02:27:15ZengEconomists' Association of VojvodinaPanoeconomicus1452-595X2012-01-0159221723410.2298/PAN1202217MLiquidity, welfare and distributionMartín Gil SamuelThis work presents a dynamic general equilibrium model where wealth distribution is endogenous. I provide channels of causality that suggest a complex relationship between financial markets and the real activity which breaks down the classical dichotomy. As a consequence, the Friedman rule does not hold. In terms of the current events taking place in the world economy, this paper provides a rationale to advert against the perils of an economy satiated with liquidity. Efficiency and distribution cannot thus be considered as separate attributes once we account for the interactions between financial markets and the economic performance.http://www.doiserbia.nb.rs/img/doi/1452-595X/2012/1452-595X1202217M.pdffriedman ruleidiosyncratic riskliquidity |
| collection |
DOAJ |
| language |
English |
| format |
Article |
| sources |
DOAJ |
| author |
Martín Gil Samuel |
| spellingShingle |
Martín Gil Samuel Liquidity, welfare and distribution Panoeconomicus friedman rule idiosyncratic risk liquidity |
| author_facet |
Martín Gil Samuel |
| author_sort |
Martín Gil Samuel |
| title |
Liquidity, welfare and distribution |
| title_short |
Liquidity, welfare and distribution |
| title_full |
Liquidity, welfare and distribution |
| title_fullStr |
Liquidity, welfare and distribution |
| title_full_unstemmed |
Liquidity, welfare and distribution |
| title_sort |
liquidity, welfare and distribution |
| publisher |
Economists' Association of Vojvodina |
| series |
Panoeconomicus |
| issn |
1452-595X |
| publishDate |
2012-01-01 |
| description |
This work presents a dynamic general equilibrium model where wealth distribution is endogenous. I provide channels of causality that suggest a complex relationship between financial markets and the real activity which breaks down the classical dichotomy. As a consequence, the Friedman rule does not hold. In terms of the current events taking place in the world economy, this paper provides a rationale to advert against the perils of an economy satiated with liquidity. Efficiency and distribution cannot thus be considered as separate attributes once we account for the interactions between financial markets and the economic performance. |
| topic |
friedman rule idiosyncratic risk liquidity |
| url |
http://www.doiserbia.nb.rs/img/doi/1452-595X/2012/1452-595X1202217M.pdf |
| work_keys_str_mv |
AT martingilsamuel liquiditywelfareanddistribution |
| _version_ |
1724843284085342208 |