MONEY AND NOMINAL BONDS

DOI10.1017/S1365100508080012MaRDI QIDQ3395273zbMATH OpenFDO

Authors Alessandro Marchesiani, Pietro Senesi

Publication date 24 August 2009

Published in Macroeconomic Dynamics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1017/S1365100508080012

zbMATH Keywords

MoneyNominal BondsTaxation

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Recommendations

• Essential interest-bearing money
• A tractable model of monetary exchange with ex post heterogeneity
• Wealth inequality and optimal monetary policy
• Which improves welfare more: A nominal or an indexed bond?
• The optimality of nominal contracts

Cites work

• A Divisible Search Model of Fiat Money
• Asset trading mechanisms and expansionary policy
• Credit and Money in a Search Model with Divisible Commodities
• Money in Search Equilibrium, in Competitive Equilibrium, and in Competitive Search Equilibrium
• Money is memory
• Money, credit and banking
• Pairwise trade and coexistence of money and higher-return assets
• Societal benefits of illiquid bonds.
• The Optimal Taxation of Fiat Money in Search Equilibrium

Cited in

(6)

• Which improves welfare more: A nominal or an indexed bond?
• Stocks and bonds during the gold standard
• Societal benefits of illiquid bonds.
• Intermediary cost and coexistence puzzle
• Coexistence of money and interest-bearing bonds
• Outside versus inside bonds: a Modigliani-Miller type result for liquidity constrained economies

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