caa a22 4500 445360119 CHVBK 20180317142912.0 cr unu---uuuuu 170323e20111201xx s 000 0 eng 10.1007/s11138-011-0151-7 doi (NATIONALLICENCE)springer-10.1007/s11138-011-0151-7 Monetary equilibrium and price stickiness: Causes, consequences and remedies [Elektronische Daten] [Philipp Bagus, David Howden] We assess monetary equilibrium theory by focusing on its foundation—price stickiness—and answer several ancillary questions. Prices are sticky at times. Contra monetary equilibrium theorists, this is not a reason to advocate an issuance of fiduciary media to counteract the effects of a sluggish price adjustment process. Issuances of fiduciary media will breed negative effects, primarily via wealth redistributions, faulty interest rate signals and exacerbated business cycles. Allowing the price level to adjust to maintain monetary equilibrium provides for fewer detrimental effects than adjusting the supply of credit. Springer Science+Business Media, LLC, 2011 Rigidities nationallicence Sticky prices nationallicence Monetary equilibrium theory nationallicence Free banking nationallicence 100% Reserve banking nationallicence Bagus Philipp Department of Applied Economics I, Universidad Rey Juan Carlos, Paseo Artilleros s/n., 28032, Madrid, Spain aut Howden David Department of Business and Economics, St. Louis University-Madrid Campus, Avenida del Valle, 34, 28003, Madrid, Spain aut The Review of Austrian Economics Springer US; http://www.springer-ny.com 24/4(2011-12-01), 383-402 0889-3047 24:4<383 2011 24 11138 https://doi.org/10.1007/s11138-011-0151-7 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s11138-011-0151-7 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Bagus Philipp Department of Applied Economics I, Universidad Rey Juan Carlos, Paseo Artilleros s/n., 28032, Madrid, Spain aut NATIONALLICENCE 700 1- Howden David Department of Business and Economics, St. Louis University-Madrid Campus, Avenida del Valle, 34, 28003, Madrid, Spain aut NATIONALLICENCE 773 0- The Review of Austrian Economics Springer US; http://www.springer-ny.com 24/4(2011-12-01), 383-402 0889-3047 24:4<383 2011 24 11138 Metadata rights reserved Springer special CC-BY-NC licence nationallicence SWISSBIB 445360119 BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer