Money and Interest in a Cash-in-Advance Economy
构建了一个包含现金先行约束的加总一般均衡模型，分析货币和实际冲击对经济的影响，并提供了验证均衡存在性、刻画和显式计算均衡的方法。
The authors analyze an aggregative general equilibrium model, in which the use of money is motivated by a cash-in-advance constraint, applied to purchases of a subset of consumption goods. The system is subject to both real and monetary shocks, which are economy-wide and observed by all. They develop methods for verifying the existence of, characterizing, and explicitly calculating equilibria. Copyright 1987 by The Econometric Society.