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Underlying problems with the current theory of money - the problem of cash-cover limits

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Gilanyi Z.

Kozgazdasagi Szemle (Economic Review)

2008

vol. 55

issue 2

136-148

Mainstream economic theory attempted to respond to the Hahn Problem by placing limits on cash cover to resolve the difficulty of integrating into itself coherently the question of money defined as a means of exchange. The paper shows the biggest problem with such limits is not, as authors have claimed, that it gives the impression that money's use as a means of exchange impedes trade, but the cash-cover limit is not suited to modelling the means-of-exchange role, in other words, money defined as a means of exchange cannot be slotted into the theory using cash-cover limits.

CONVERGENCE AND GROWTH RATE (Konvergencia es novekedesi utem)

75%

Dedak I., Dombi A.

Kozgazdasagi Szemle (Economic Review)

2009

vol. 56

issue 1

19-45

The study examines empirically the assumed process of convergence by the Central-East European (CEE) countries according to the expanded Solow model of human resources. The authors estimate the speed of convergence derived from capital accumulation for nine CEE countries in 1997-2006, based on several samples and model variations. Economic convergence of the post-socialist countries begins with a far from stationary level of income, which raises several problems with the methodology employed traditionally in mainstream literature. So the first half of the study examines also from a theoretical angle the subject of the speed of convergence, with special attention to actual growth rates.

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2 Kozgazdasagi Szemle (Economic Review)

1 Dedak I.

1 Dombi A.

1 Gilanyi Z.

1 2009

1 2008

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Underlying problems with the current theory of money - the problem of cash-cover limits

CONVERGENCE AND GROWTH RATE (Konvergencia es novekedesi utem)