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| Tekijä: | Kiyotaki, N. Wright, R. |
| Otsikko: | A search-theoretic approach to monetary economics. |
| Lehti: | American Economic Review
1993 : MAR, VOL. 83:1, p. 63-77 |
| Asiasana: | MONETARY ECONOMICS BARTERING SPECIALIZATION |
| Kieli: | eng |
| Tiivistelmä: | Money has its role as a medium of exchange. A search- theoretic equilibrium model is formalized that captures the "double coincidence of wants problem" with pure barter. The model can also be used to address some substantive issues in monetary economics , including the potential welfare-enhancing role of money, the interaction between specialization and monetary exchange, and the possibility of equilibria with multiple fiat currencies. |
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