The Econometric SocietyEconometrica: May 1971, Volume 39, Issue 3
Equilibrium with Transaction Costs
https://doi.org/0012-9682(197105)39:3<417:EWTC>2.0.CO;2-X
p.
417-439
F. H. Hahn
This paper examines some of the modifications required in well known propositions of general equilibrium theory when transactions require resources. Some preliminary remarks on the analysis of money in such economies are also offered.Log In To View Full Content