On the coexistence of money and higher-return assets and its social role

DOI10.1016/j.jet.2013.09.006zbMath1284.91181OpenAlexW2170714404MaRDI QIDQ2434236

Guillaume Rocheteau, Tai-Wei Hu

Publication date: 5 February 2014

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jet.2013.09.006

zbMATH Keywords

capitalmoneypairwise tradesrate-of-return dominance

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Trade models (91B60) Auctions, bargaining, bidding and selling, and other market models (91B26)

Related Items (7)

Monetary policy with asset-backed money ⋮ On the optimal quantity of liquid bonds ⋮ On the benefits of currency reform ⋮ Co-essentiality of money and credit: a mechanism-design view ⋮ Optimal monetary policy with interest on reserves and capital over-accumulation ⋮ Debt enforcement and the value of money ⋮ Optimal monetary policy in an overlapping generations model with search theoretic monetary exchange

Cites Work

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• Incomplete record-keeping and optimal payment arrangements
• Government transaction policy, media of exchange, and prices
• Societal benefits of illiquid bonds.
• Pairwise trade and coexistence of money and higher-return assets
• Imperfect recognizability and coexistence of money and higher-return assets
• Information, Liquidity, Asset Prices, and Monetary Policy
• A Walrasian Theory of Money and Barter

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