Monetary transaction costs and the term premium

DOI10.1007/S00199-014-0817-ZMaRDI QIDQ2346324zbMATH OpenOpenAlexFDO

Authors Dimitrios P. Tsomocos, Raphaël A. Espinoza

Publication date 1 June 2015

Published in Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s00199-014-0817-z

zbMATH Keywords

cash-in-advance constraintsliquiditymonetary aggregatesterm structure of interest rates

Mathematics Subject Classification ID

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

Recommendations

• Monetary policy and the term premium
• A search-theoretic model of the term premium
• State prices, liquidity, and default
• Monetary general equilibrium with transaction costs.
• Equilibrium interest rate and liquidity premium with transaction costs

Cites work

• A strategic market game with a mutual bank with fractional reserves and redemption in gold. A continuum of traders
• A theory of the term structure of interest rates
• An intertemporal asset pricing model with stochastic consumption and investment opportunities
• An Intertemporal General Equilibrium Model of Asset Prices
• Asset Prices in an Exchange Economy
• Determinacy with nominal assets and outside money
• Efficient online exchange via fiat money
• Equilibrium asset prices with undiversifiable labor income risk
• Existence of Equilibrium of Plans, Prices, and Price Expectations in a Sequence of Markets
• Financial innovation, precautionary saving and the risk-free rate
• Generic determinacy and money non-neutrality of international monetary equilibria
• Heterogeneous beliefs, the term structure and time-varying risk premia
• Monetary equilibria over an infinite horizon
• Monetary equilibrium with missing markets.
• Monetary transaction costs and the term premium
• Money and Interest in a Cash-in-Advance Economy
• On the Role of Money and the Existence of a Monetary Equilibrium
• Savings and default
• State prices, liquidity, and default
• The optimal bankruptcy rule in a trading economy using fiat money

Cited in

(5)

• State prices, liquidity, and default
• Monetary policy and the term premium
• Monetary transaction costs and the term premium
• On default and uniqueness of monetary equilibria
• A search-theoretic model of the term premium

This page was built for publication: Monetary transaction costs and the term premium

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q2346324)