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Search for a Theory of Money / Nobuhiro Kiyotaki, Randall Wright.
- Format:
- Book
- Author/Creator:
- Kiyotaki, Nobuhiro.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w3482.
- NBER working paper series no. w3482
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1990.
- Summary:
- The classical and early neoclassical economists knew that the essential function of money was its role as a medium of exchange; Recently, this idea has been formalized using search-theoretic noncooperative equilibrium models of the exchange process. The goal of this paper is to use a simple model of this class to analyze four substantive issues in monetary economics: the interaction between specialization and exchange, dual fiat currency regimes, the welfare improving role of money, and the susceptibility of monetary economies to extrinsic uncertainty.
- Notes:
- Print version record
- October 1990.
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