{"product_id":"guillaume-rocheteau-money-payments-and-liquidity-9780262016285","title":"Money, Payments, and Liquidity","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.","brand":"MIT PR","offers":[{"title":"Used - good","offer_id":53584973726038,"sku":"9780262016285-G","price":1.49,"currency_code":"EUR","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0925\/5829\/5382\/files\/product_image_9780262016285_1_71880639-87f3-48bd-98ca-5cc51126a83e.jpg?v=1781714588","url":"https:\/\/www.momoxbooks.com\/products\/guillaume-rocheteau-money-payments-and-liquidity-9780262016285","provider":"momoxbooks","version":"1.0","type":"link"}