ABSTRACT
This conclusion presents some closing thoughts on the key concepts discussed in the preceding chapters of this book. The book explains the non-voidness and the structure of the set of short-run or temporary monetary equilibria. A temporary equilibrium theory can be viewed as a general Walrasian equilibrium analysis of a sequence of markets over time, where at each date each agent makes decisions according to his expectations of the future environment. These expectations are formed in the light of the agent's knowledge of current and past information. The book has emphasized introducing a financial asset called money into the model. Then a temporary monetary equilibrium is defined as a temporary equilibrium situation with positive price of money, although money has no intrinsic value for consumption. Although time has been incorporated explicitly into the temporary equilibrium analysis, the model is essentially a static one which ensures the equilibrium properties only in a temporary sense. The equilibria obtained are not necessarily stationary.
