4905 Spring 16 Feb 7 Readings

Reading for the week of 7 February 2016 is the first section on the course reading list, namely:

1. Baumol, William J. “The Transactions Demand for Cash: An Inventory Theoretic Approach.” The Quarterly Journal of Economics 66.4 (1952): 545.

2. Yves Balasko & Karl Shell, “Lump-Sum Taxation: The Static Economy,” in General Equilibrium, Growth, and Trade: The Legacy of Lionel McKenzie, II. (R. Becker, M. Boldrin, R. Jones, and W. Thomson, eds.) New York: Academic Press (1993) 168-180.

3. Shell website section on Taxes Denominated in Money

4. K. J. Arrow, “The Role of Securities in the Optimal Allocation of Risk-Bearing,” Review of Economic Studies, April 1964, 91-96.