multimercado 16
The model of multi-market, originally developed by Lucas ( 1972, 1973 ) and mud ( 1976 ) combines the hypothesis of flexibility of prices and imperfect information in the determination of relative prices of balance of the economy ( 41 general equilibrium; or a subset of it. In this model the distribution of balance of relative prices is independent of the early variations of the money supply or inflation. Only surprises, effects not anticipated, those variables affect relative prices, which is a consequence of the hypothesis of imperfect information. Without perfect information agents confused partially monetary disturbances with real disturbances
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