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Money, Payments, and Liquidity

By Guillaume Rocheteau

Money, Payments, and Liquidity Business, Finance & Career

Money, Payments, and Liquidity

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Description
In Money, Payments, and Liquidity, Ed Nosal and Guillaume Rocheteau provide a comprehensive investigation into the economics of money and payments by explicitly modeling trading frictions between agents. Adopting the search-theoretic approach pioneered by Nobuhiro Kiyotaki and Randall Wright, Nosal and Rocheteau provide a logically coherent dynamic framework to examine the frictions in the economy that make money and liquid assets play a useful role in trade. They discuss the implications of such frictions for the suitable properties of a medium of exchange, monetary policy, the cost of inflation, the inflation-output trade-off, the coexistence of money, credit, and higher return assets, settlement, and liquidity.
Product details
Number of Pages:
369
Release Date:
2011-10-28
Publication Date:
2011-11-30
Publisher:
MIT PR
Languages:
Original: English
ISBN10:
0262016281
ISBN13:
9780262016285
Weight:
640 g
Height:
159 cm
Width:
235 cm
Thickness:
30 cm
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