Money Circulation Equation Considering Time Irreversibility

Miura, Shinji

doi:10.4236/alamt.2014.44016

Cited by 2 publications

(10 citation statements)

References 15 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Miura [1] confirms that the sum of gross source and the sum of gross result are equal in any agent. This proposition is named the law of gross disposal 4 .…”

Section: Simple Budget Constraint and The First Missing Problem Of Thmentioning

confidence: 79%

“…We tend to think that this situation is strange, but such a tendency is formed because we usually make the subconscious assumption that money is disposed time irreversibly 16 . Furthermore, in Miura [1], we have proved that time irreversible disposal causes the space-time openness condition for the result direction 17 . The condition includes that the end money of at least one agent is positive.…”

mentioning

confidence: 85%

“…The framework is basically the same as that used by Miura [1] and Miura [2]. We decide that the target group of economic agents for description is called the relevant society 1 . There are various kinds of agents, such as individuals, families, corporations, governments, and so on.…”

Section: Simple Budget Constraint and The First Missing Problem Of Thmentioning

confidence: 99%

“…By the disposal irreversibility principle, the disposal table of Agent k is as follows. 19 In Footnote 11 in Miura [1] p. 195, we have derived the finiteness of the number of basic-terms from the finiteness of the number of disposals. But in this paper, since we have shown the possibility of the infinity of expenditure as the second missing problem, introducing the finiteness of the number of disposal beforehand seems to be inappropriate.…”

Section: Subterm T Term End Summentioning

confidence: 99%

“…Here, we should recall the solvability proof of the money circulation equation shown in Miura [1] 15…”

mentioning

confidence: 99%

See 4 more Smart Citations

Monetary Budget Constraint and Its Missing Problems

Miura¹

2015

OJOp

Self Cite

View full text Add to dashboard Cite

This paper aims to inquire into an objectively authentic budget constraint in a monetary economy through showing two missing problems of the monetary budget constraint and their solutions. To start with, we show the first missing problem that money is "missing" if all agents expend their total budgets under the simple budget constraint. This problem shows that the simple budget constraint is inadequate as an objective monetary budget constraint. A deficiency of the simple budget constraint exists partly in that it does not reflect money circulation. To improve this deficiency, we incorporate the expenditure reflux formula into the simple constraint. The first missing problem is partially solved by the application of this reflux budget constraint, but another problem occurs. The new problem is that infinite expenditure is permitted under this constraint. This is the second missing problem. The second problem appears to be a variation of the solvability problem of the money circulation equation. Referring to the proof of the solvability, we incorporate a time irreversible disposal into the budget constraint. This irreversibility budget constraint brings us a provisional solution of the missing problems. However, it should not be called a perfect solution. We also examine the relationships between our research and two previous studies: the finance constraint and the cash-in-advance model.

show abstract

“…Miura [1] confirms that the sum of gross source and the sum of gross result are equal in any agent. This proposition is named the law of gross disposal 4 .…”

Section: Simple Budget Constraint and The First Missing Problem Of Thmentioning

confidence: 79%

mentioning

confidence: 85%

Section: Simple Budget Constraint and The First Missing Problem Of Thmentioning

confidence: 99%

Section: Subterm T Term End Summentioning

confidence: 99%

“…Here, we should recall the solvability proof of the money circulation equation shown in Miura [1] 15…”

mentioning

confidence: 99%

See 3 more Smart Citations

Monetary Budget Constraint and Its Missing Problems

Miura¹

2015

OJOp

Self Cite

View full text Add to dashboard Cite

show abstract

Quantification of Revenue Induction and Expenditure Reflux in a Monetary Economy

Miura¹

2015

ALAMT

Self Cite

View full text Add to dashboard Cite

In a monetary economy, expenditure induces revenue for each agent. We call this the revenue induction phenomenon. Moreover, in a special case, part of the expenditure by an agent returns as their own revenue. We call this the expenditure reflux phenomenon. Although the existence of these phenomena is known from the olden days, this paper aims to achieve a more precise quantification of them. We first derive the revenue induction formula through solving the partial money circulation equation. Then, for a special case, we derive the expenditure reflux formula. Furthermore, this paper defines the revenue induction coefficient and the expenditure reflux coefficient, which are the key concepts for understanding the two formulas, and examines their range.

show abstract

Money Circulation Equation Considering Time Irreversibility

Cited by 2 publications

References 15 publications

Monetary Budget Constraint and Its Missing Problems

Monetary Budget Constraint and Its Missing Problems

Quantification of Revenue Induction and Expenditure Reflux in a Monetary Economy

Contact Info

Product

Resources

About