Add to ORKGThis paper studies an economy with 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 protection against the inflation tax
Abstract. In the equilibria of monetary economies, individuals may have different intertemporal marg...
In a dynamic economy, money provides liquidity as a medium of exchange. A central bank that sets the...
this version: 2003 The primary question that I try to address here is: Why do government-issued, nom...
This paper studies an economy with ex post heterogeneity and nominal bonds in a model a la Lagos and...
In this paper I analyze how interest rates, output and welfare depend on the liquidity of nominal bo...
In this paper, I provide a possible explanation of why nominally risk-free bonds are essential in mo...
In this paper, we study the relationship between welfare and real interest rates in Aiyagari and Wil...
This paper addresses why it is beneficial for a society to restrict the use of nominal bonds as a me...
In this paper, we study the relationship between welfare and real interest rates in Aiyagari and Wil...
This paper is the first step in the integration of the (search-theoretic) microfoundation of monetar...
In this paper, I provide a possible explanation of why nominally risk-free bonds are essential in mo...
This paper studies an economy with trading frictions, and liquid outside bonds in a model à la Lago...
Although inflation-linked bonds have many advantages, nominal bonds are the most important instrumen...
I examine a version of the Lagos and Wright (2005) monetary model where coercive lump-sum taxation i...
In Chapter 1 we construct a monetary economy with heterogeneity in discounting and consumption risk....
Abstract. In the equilibria of monetary economies, individuals may have different intertemporal marg...
In a dynamic economy, money provides liquidity as a medium of exchange. A central bank that sets the...
this version: 2003 The primary question that I try to address here is: Why do government-issued, nom...
This paper studies an economy with ex post heterogeneity and nominal bonds in a model a la Lagos and...
In this paper I analyze how interest rates, output and welfare depend on the liquidity of nominal bo...
In this paper, I provide a possible explanation of why nominally risk-free bonds are essential in mo...
In this paper, we study the relationship between welfare and real interest rates in Aiyagari and Wil...
This paper addresses why it is beneficial for a society to restrict the use of nominal bonds as a me...
In this paper, we study the relationship between welfare and real interest rates in Aiyagari and Wil...
This paper is the first step in the integration of the (search-theoretic) microfoundation of monetar...
In this paper, I provide a possible explanation of why nominally risk-free bonds are essential in mo...
This paper studies an economy with trading frictions, and liquid outside bonds in a model à la Lago...
Although inflation-linked bonds have many advantages, nominal bonds are the most important instrumen...
I examine a version of the Lagos and Wright (2005) monetary model where coercive lump-sum taxation i...
In Chapter 1 we construct a monetary economy with heterogeneity in discounting and consumption risk....
Abstract. In the equilibria of monetary economies, individuals may have different intertemporal marg...
In a dynamic economy, money provides liquidity as a medium of exchange. A central bank that sets the...
this version: 2003 The primary question that I try to address here is: Why do government-issued, nom...