Abstract

TOLEDO, Wilfredo. MONEY IN MACROECONOMIC MODELS. Rev.econ.inst. [online]. 2006, vol.8, n.15, pp.97-116. ISSN 0124-5996.

An important challenge in monetary economics is the development of an endogenous theory of money, which introduces money in a natural way and not as an external imposition. This paper reviews different approaches that have been used in monetary economic literature, and argues that overlapping generation models and search models are the best choices.

Keywords : money; monetary economics; overlapping generations; search models.

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