Outside versus inside bonds: a Modigliani-Miller type result for liquidity constrained economies
DOI10.1016/J.JET.2011.06.016zbMATH Open1255.91388OpenAlexW3122914628MaRDI QIDQ643259FDOQ643259
Authors: Aleksander Berentsen, Christopher Waller 
Publication date: 28 October 2011
Published in: Journal of Economic Theory (Search for Journal in Brave)
Full work available at URL: https://doi.org/10.1016/j.jet.2011.06.016
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Cites Work
- Efficiency, Equilibrium, and Asset Pricing with Risk of Default
- Bubbles and Self-Enforcing Debt
- Societal benefits of illiquid bonds.
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- A Divisible Search Model of Fiat Money
- Collateral secured loans in a monetary economy
- Essential interest-bearing money
- Money, credit and banking
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- A Difficulty with the Optimum Quantity of Money
- Money and dynamic credit arrangements with private information
- MONEY AND NOMINAL BONDS
- Currency and Credit are Equivalent Mechanisms
- Some results on the optimality and implementation of the Friedman rule in the search theory of money
Cited In (14)
- Asymmetric information in frictional markets for liquidity: collateralized credit vs asset sale
- A microfounded approach to currency substitution and government policy
- A model in which outside and inside money are essential
- Liquidity and private information in asset markets: to signal or not to signal
- Liquidity and asset prices in a monetary model with OTC asset markets
- Frictional asset markets and the liquidity channel of monetary policy
- Liquidity premiums on government debt and the fiscal theory of the price level
- Comments on ``Frictional capital reallocation. I: Ex ante heterogeneity by R. Wright, S. X. Xiao, and Y. Zhu
- The redistributive effects of inflation and the shape of money demand
- Intermediary cost and coexistence puzzle
- Safe assets, credit provision and debt management
- Degreasing the wheels of finance
- On the optimal quantity of liquid bonds
- The role of trading frictions in financial markets
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