Add to ORKGThis paper studies an economy with trading frictions, ex post heterogeneity and nominal bonds in a model à la Lagos and Wright (2005). It is shown that a strictly positive interest rate is a sufficient condition for the allocation with nominal bonds to be welfare improving. This result comes from the protection against the inflation tax
In monetary models where agents are subject to trading shocks there is typically an ex-post ineffici...
The paper advances an answer to a puzzle: Why is any lending or borrowing done in terms of money, wh...
The present paper introduces two bonds in a standard New-Keynesian model to study the role of segmen...
This paper studies an economy with trading frictions, ex post heterogeneity and nominal bonds in a m...
This paper studies an economy with ex post heterogeneity and nominal bonds in a model à la Lagos and...
In this paper, I provide a possible explanation of why nominally risk-free bonds are essential in mo...
In this paper, I provide a possible explanation of why nominally risk-free bonds are essential in mo...
In this paper I analyze how interest rates, output and welfare depend on the liquidity of nominal bo...
This paper addresses why it is beneficial for a society to restrict the use of nominal bonds as a me...
This paper is the first step in the integration of the (search-theoretic) microfoundation of monetar...
In a dynamic economy, money provides liquidity as a medium of exchange. A central bank that sets ...
Financial markets are incomplete, thus for many agents borrowing is possible only by accepting a fin...
WOS:000302552800006Cash-in-advance models usually require agents to reallocate money and bonds in fi...
We characterize the optimal sequential choice of monetary policy in economies with either nominal or...
The paper advances an answer to a puzzle: Why is any lending or borrowing done in terms of money, wh...
In monetary models where agents are subject to trading shocks there is typically an ex-post ineffici...
The paper advances an answer to a puzzle: Why is any lending or borrowing done in terms of money, wh...
The present paper introduces two bonds in a standard New-Keynesian model to study the role of segmen...
This paper studies an economy with trading frictions, ex post heterogeneity and nominal bonds in a m...
This paper studies an economy with ex post heterogeneity and nominal bonds in a model à la Lagos and...
In this paper, I provide a possible explanation of why nominally risk-free bonds are essential in mo...
In this paper, I provide a possible explanation of why nominally risk-free bonds are essential in mo...
In this paper I analyze how interest rates, output and welfare depend on the liquidity of nominal bo...
This paper addresses why it is beneficial for a society to restrict the use of nominal bonds as a me...
This paper is the first step in the integration of the (search-theoretic) microfoundation of monetar...
In a dynamic economy, money provides liquidity as a medium of exchange. A central bank that sets ...
Financial markets are incomplete, thus for many agents borrowing is possible only by accepting a fin...
WOS:000302552800006Cash-in-advance models usually require agents to reallocate money and bonds in fi...
We characterize the optimal sequential choice of monetary policy in economies with either nominal or...
The paper advances an answer to a puzzle: Why is any lending or borrowing done in terms of money, wh...
In monetary models where agents are subject to trading shocks there is typically an ex-post ineffici...
The paper advances an answer to a puzzle: Why is any lending or borrowing done in terms of money, wh...
The present paper introduces two bonds in a standard New-Keynesian model to study the role of segmen...