Money and Credit : Theory and Applications /

We develop a theory of money and credit as competing payment instruments, then put it to work in applications. Buyers can use cash or credit, with the former (latter) subject to the inflation tax (transaction costs). Frictions that make the choice of payment method interesting also imply equilibrium...

Cur síos iomlán

Sonraí bibleagrafaíochta
Príomhchruthaitheoir: Wang, Liang
Rannpháirtithe: Liu, Lucy Qian, Wright, Randall
Formáid: IRIS
Teanga:English
Foilsithe / Cruthaithe: Washington, D.C. : International Monetary Fund, 2017.
Sraith:IMF Working Papers; Working Paper ; No. 2017/014
Rochtain ar líne:Full text available on IMF