Description

Book Synopsis
A new edition of a book presenting a unified framework for studying the role of money and liquid assets in the economy, revised and updated.

In Money, Payments, and Liquidity, Guillaume Rocheteau and Ed Nosal provide a comprehensive investigation into the economics of money, liquidity, and payments by explicitly modeling the mechanics of trade and its various frictions (including search, private information, and limited commitment). Adopting the last generation of the New Monetarist framework developed by Ricardo Lagos and Randall Wright, among others, Nosal and Rocheteau provide a dynamic general equilibrium framework to examine the frictions in the economy that make money and liquid assets play a useful role in trade. They discuss such topics as cashless economies; the properties of an asset that make it suitable to be used as a medium of exchange; the optimal monetary policy and the cost of inflation; the coexistence of money and credit; and the relationshi

Money Payments and Liquidity The MIT Press

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    A Paperback by Guillaume Rocheteau, Ed Nosal

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      View other formats and editions of Money Payments and Liquidity The MIT Press by Guillaume Rocheteau

      Publisher: MIT Press
      Publication Date: Publication Date: 5/19/2017 12:00:00 AM
      ISBN13: 9780262533270, 978-0262533270
      ISBN10: 0262533278
      Also in:
      Credit and credit institutions Monetary economics

      Description

      Book Synopsis
      A new edition of a book presenting a unified framework for studying the role of money and liquid assets in the economy, revised and updated.

      In Money, Payments, and Liquidity, Guillaume Rocheteau and Ed Nosal provide a comprehensive investigation into the economics of money, liquidity, and payments by explicitly modeling the mechanics of trade and its various frictions (including search, private information, and limited commitment). Adopting the last generation of the New Monetarist framework developed by Ricardo Lagos and Randall Wright, among others, Nosal and Rocheteau provide a dynamic general equilibrium framework to examine the frictions in the economy that make money and liquid assets play a useful role in trade. They discuss such topics as cashless economies; the properties of an asset that make it suitable to be used as a medium of exchange; the optimal monetary policy and the cost of inflation; the coexistence of money and credit; and the relationshi

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