Essential interest-bearing money

DOI10.1016/J.JET.2009.12.003zbMath1245.91058OpenAlexW3021601657MaRDI QIDQ981043

David Andolfatto

Publication date: 8 July 2010

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: http://research.stlouisfed.org/wp/2009/2009-044.pdf

zbMATH Keywords

moneyFriedman ruleinterestefficient implementationvoluntary tradeincentive-feasible policies

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Related Items (14)

Heterogeneous beliefs and trading inefficiencies ⋮ Monetary policy with asset-backed money ⋮ Optimal monetary interventions in credit markets ⋮ On the optimal quantity of liquid bonds ⋮ Central bank digital currency and monetary policy ⋮ On the benefits of currency reform ⋮ The cost of inflation: a mechanism design approach ⋮ Optimal monetary policy with heterogeneous money holdings ⋮ Outside versus inside bonds: a Modigliani-Miller type result for liquidity constrained economies ⋮ Optimal monetary policy with interest on reserves and capital over-accumulation ⋮ Decentralizing constrained-efficient allocations in the Lagos-Wright pure currency economy ⋮ RANDOM MATCHING AND MONEY IN THE NEOCLASSICAL GROWTH MODEL: SOME ANALYTICAL RESULTS ⋮ Introduction to search theory and applications ⋮ Fiat money as a public signal, medium of exchange, and punishment

Cites Work

• Money and credit with limited commitment and theft
• Money, credit and banking
• Societal benefits of illiquid bonds.
• Pairwise trade and coexistence of money and higher-return assets
• Money in Search Equilibrium, in Competitive Equilibrium, and in Competitive Search Equilibrium

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