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  1. 1 Kozgazdasagi Szemle (Economic Review)

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  1. 1 2006

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  1. 1 Gilanyi Z.

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Underlying problems of the dominant theory of money - the Hahn Problem

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Gilanyi Z.
Kozgazdasagi Szemle (Economic Review)
|
2006
|
vol. 53
|
issue 7/8
701-713
EN
The mainstream theory of economics is receiving frequent criticism from its opponents and from its followers. Surprisingly (and precisely for that reason), the most serious criticism - arguing that many of the theory's models are not logically closed - was formulated by F. Hahn himself, co-author/co-editor of General Competitive Analysis and Handbook of Monetary Economics: the price of money can be at zero equilibrium. The study examines the negative outcome and consequences of this contribution, which has become known as the Hahn Problem.
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