Revisiting Monetarism: influence of Entropic Models

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Tác giả: Henry D. Vera Ramirez

Ngôn ngữ: eng

Ký hiệu phân loại: 332.46 Monetary policy

Thông tin xuất bản: 2024

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Bộ sưu tập: Metadata

ID: 203134

Comment: NoneThis paper introduces an approach to gas-like models, from the concept of entropy, using the money stock data of two economic agents, in this case of two countries, which carry out market actions (trading) in two theoretical scenarios: in the absence of debt and with debt. The exercise deals exclusively with a no debt scenario and the data and results show that the bounded model generates low $P_{(m)}$, values that the results of the regressions between the two countries show an advantageous position of the stock country $m_i$ over the stock country $m_j$. About the rationale, it is found that these models can provide meaningful information regarding the behavior of monetary variables, -- taking into account the different conceptual positions proposed in the manuscript -- using analogies derived from other fields of study ranging from molecules in rarefied gases or particles collisions, bringing the data to the interaction of economic actors.
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