Two Topics in Macroeconomics

本项目由两部分组成。 第一个涉及 对以往货币基础研究的扩展 经济学 这项研究将正式解决如何 交换发生了，哪些物体开始扮演 钱，或者是交换媒介。 取得了很大进展 了解商品和法定货币的发展 抽象经济模型中的货币。 进一步的工作包括 解决有关理论的一些技术问题， 模型，甚至更重要的是， 可用于解决实质性问题的框架版本 问题，包括货币政策问题。 第二 这项研究的一部分是调查一些影响， 将家庭生产部门纳入 宏观经济活动。 一些初步分析表明 家庭生产可以对农业生产质量和 在其他标准业务模型中的定量影响 周期 未来的工作包括分析这些商业周期 的影响，以及对家庭影响的调查 生产理论中的失业，经济增长和公共 财政

This project consists of two parts. The first involves the extension of previous research on the foundations of monetary economics. This research will formally address the issues of how exchange takes place and which objects come to play the role of money, or a medium of exchange. Much progress has been made towards understanding the development of both commodity and fiat money in abstract economic models. Further work includes the resolution of some technical issues concerning the theoretical models and even, more importantly, the development of simplified versions of the framework that can be used to address substantive issues, including policy issues in monetary economics. The second part of the study is to investigate some implications of explicitly incorporating a household production sector in models of macroeconomic activity. Some preliminary analysis indicates household production can have an important qualitative and quantitative impact in an otherwise standard model of the business cycle. Future work includes the analysis of these business cycle implications, and the investigation of the impact of household production in theories of unemployment, economic growth, and public finance.