Titlebook: Recent Developments on Money and Finance; Exploring Links betw Charalambos D. Aliprantis,Nicholas C. Yannelis,Gab Book 2006 Springer-Verlag

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Gnrh670

The distribution of money and prices in an equilibrium with lotteries,monetary transfers. By studying a simple trading pattern, we can analytically characterize the monetary distribution. Interestingly, such distributions match those observed in numerically simulated economies with fully divisible money and price heterogeneity.

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A simple search model of money with heterogeneous agents and partial acceptability,bustly. There can be multiple equilibria with different degrees of acceptability. Given the type of heterogeneity we allow, the model is simple: equilibria reduce to fixed points in [0, 1]. We show that with other forms of heterogeneity equilibria are fixed points in set space, and there is no method to reduce this to a problem in . ..

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Charlatan

Inflation, Growth and Exchange Rate Regimes in Small Open Economies,unction, there are multiple reserve requirements, and credit market frictions may or may not cause credit rationing. Under floating exchange rates, raising domestic inflation can increase production if credit is rationed. However, there exist inflation thresholds: increasing inflation beyond the thr

Adrenaline

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Asset pricing implications of efficient risk sharing in an endowment economy,g. The inefficiency is linked with the stochastic distribution of income over agents within a period. The introduction of a clearing house may eliminate the dynamic inefficiency, but depending on how the clearing house operates, households may only have partial insurance against income risk. Hence,

PALSY

Distributional aspects of the divisibility of money. An example,money balances, to one with deterministic transfers of partially divisible balances. Randomization allows price flexibility, as if money were fully divisible. Partial divisibility does not, but allows money redistributions. An example of the relevance of such ‘extensive margin’ aspects of divisibili