A model is presented to explain how a competitive equilibrium is achieved between multiple regions trading in multiple financial markets. The process of interregional arbitrage developed by Moore, Hill, and others over the past few years is combined with the work of Nagurney in spatial price equilibrium to provide an interesting extension of the original model. This is the first application of spatial equilibrium to monetary flows; an essential ingredient in the eventual development of a general model of spatial equilibrium.
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