Add to ORKGThis paper characterizes a random matching model where fiat money and risk-free nominal bonds coexist as competing media of exchange. We introduce explicit frictions in the Lagos and Wright (2005)’s model, frictions that allow us to endogenize bonds acceptability. We derive equilibrium conditions such that the nominal interest rate varies within the interval [0, u ′ (q) /c ′ (q)−1] depending on the relative liquidity of these assets
Money, which provides liquidity, is distinct from debt. The introduction of a bank that issues money...
An alternative theoretical setting is presented to characterise the money demand and the monetary eq...
We present a two-country extension of Lucas’ (1988) work on how cash-in-advance constraints in asset...
This paper studies an economy with trading frictions, and liquid outside bonds in a model à la Lago...
This paper is the first step in the integration of the (search-theoretic) microfoundation of monetar...
In this paper I analyze how interest rates, output and welfare depend on the liquidity of nominal bo...
It is folklore among monetary theorists that, under laissez faire, absent ad-hoc assump-tions that f...
this version: 2004 This paper integrates monetary search theory with limited participation to analyz...
Preliminary draft We study economies where buyers and sellers meet bilaterally and at random and whe...
This paper studies an economy with trading frictions, ex post heterogeneity and nominal bonds in a m...
I construct a monetary model with agents that face idiosyncratic shocks to how they discount future ...
Summary. Money, which provides liquidity, is distinct from debt. The introduction of a bank that iss...
An important concern of macroeconomic analysis is to what extent monetary policy affects the cash ba...
We present a simple stock-flow consistent (SFC) model to discuss some recent claims made by Angel As...
In this paper we develop a two-country global monetary economy where a monetary equilibrium exists b...
Money, which provides liquidity, is distinct from debt. The introduction of a bank that issues money...
An alternative theoretical setting is presented to characterise the money demand and the monetary eq...
We present a two-country extension of Lucas’ (1988) work on how cash-in-advance constraints in asset...
This paper studies an economy with trading frictions, and liquid outside bonds in a model à la Lago...
This paper is the first step in the integration of the (search-theoretic) microfoundation of monetar...
In this paper I analyze how interest rates, output and welfare depend on the liquidity of nominal bo...
It is folklore among monetary theorists that, under laissez faire, absent ad-hoc assump-tions that f...
this version: 2004 This paper integrates monetary search theory with limited participation to analyz...
Preliminary draft We study economies where buyers and sellers meet bilaterally and at random and whe...
This paper studies an economy with trading frictions, ex post heterogeneity and nominal bonds in a m...
I construct a monetary model with agents that face idiosyncratic shocks to how they discount future ...
Summary. Money, which provides liquidity, is distinct from debt. The introduction of a bank that iss...
An important concern of macroeconomic analysis is to what extent monetary policy affects the cash ba...
We present a simple stock-flow consistent (SFC) model to discuss some recent claims made by Angel As...
In this paper we develop a two-country global monetary economy where a monetary equilibrium exists b...
Money, which provides liquidity, is distinct from debt. The introduction of a bank that issues money...
An alternative theoretical setting is presented to characterise the money demand and the monetary eq...
We present a two-country extension of Lucas’ (1988) work on how cash-in-advance constraints in asset...