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140102s2011 mau eng |
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|a 0262016281
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|a 0262298287 (e-book)
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|a 9780262016285
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|a 9780262298285 (e-book)
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|a HG178
|b .N67 2011
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|a HG178
|b .N67 2011
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|a Nosal, Ed ,
|e author
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|a Money, payments, and liquidity [
|h [electronic resources]]
|c Ed Nosal and Guillaume Rocheteau
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|a Cambridge, Massachusetts :
|b MIT Press ,
|c c2011
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| 300 |
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|a 1 online resource (xii, 369 p.) :
|b ill
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|a Includes bibliographical references (p. [339]-356) and index
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|a 1. The basic environment -- 2. Pure credit economies -- 3.The role of money -- 4. Money in equilibrium -- 5. Properties of money -- 6. The optimum quantity of money -- 7. Information, monetary policy, and the inflation-output trade-off -- 8. Money and credit -- 9. Money, negotiable debt, and settlement -- 10. Competing media of exchange -- 11. Liquidity, monetary policy,and asset prices -- 12. Liquidity and trading frictions
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|a In Money, Payments, and Liquidity, Ed Nosal and Guillaume Rocheteau provide a comprehensive investigation into the economics of money and payments by explicitly modeling trading frictions between agents. Adopting the search-theoretic approach pioneered by Nobuhiro Kiyotaki and Randall Wright, Nosal and Rocheteau provide a logically coherent dynamic framework to examine the frictions in the economy that make money and liquid assets play a useful role in trade. They discuss the implications of such frictions for the suitable properties of a medium of exchange, monetary policy, the cost of inflation, the inflation-output trade-off, the coexistence of money, credit, and higher return assets, settlement, and liquidity.After presenting the basic environment used throughout the book, Nosal and Rocheteau examine pure credit and pure monetary economies, and discuss the role of money, different pricing mechanisms, and the properties of money. In subsequent chapters they study monetary policy, the Friedman rule in particular, and the relationship between inflation and output under different information structures; economies where monetary exchange coexists with credit transactions; the coexistence of money and other assets such as another currency, capital, and bonds; and a continuous-time version of the model that describes over-the-counter markets and different dimensions of liquidity (bid-ask spreads, trade volume, trading delays).
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| 650 |
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|a Liquidity (Economics)
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| 650 |
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|a Monetary policy
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| 650 |
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|a Money
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| 700 |
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|a Rocheteau, Guillaume ,
|e author
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|3 http://web.a.ebscohost.com/ehost/ebookviewer/ebook/bmxlYmtfXzQwNzc3M19fQU41?sid=3343a972-ef88-4485-904b-d0a5b3229fdf@sessionmgr4003&vid=11&format=EB&rid=1
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| 999 |
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|a 1000160553
|b Electronic Resource
|c Electronic Resource
|e Gong Badak Campus
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