CFDP 2036R

Three Essays on the Theory of Money and Financial Institutions: Essay 1: A Nontechnical Overview


Publication Date: April 2016

Revision Date: November 2016

Pages: 16


This is a nontechnical retrospective paper on a game theoretic approach to the theory of money and financial institutions. The stress is on process models and the reconciliation of general equilibrium with Keynes and Schumpeter’s approaches to non-equilibrium dynamics.


Bankruptcy, Innovation, Growth, Competition, Price-formation

JEL Classification Codes: C7, E12

JEL Classification Codes: E12