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La quantité optimale de monnaie dans un modèle avec appariements aléatoires

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  • Guillaume Rocheteau

Abstract

This article determines the optimum quantity of money for various extensions of the search-theoretic model of fiat money and examines the robustness of the Kiyotaki and Wright's results in the presence of money and inventory holdings. In the case of a bound on money holdings, the optimum quantity of money is reached when the distribution of money among agents is uniform. The choice of this upper bound by rational agents generates multiple equilibria.

Suggested Citation

  • Guillaume Rocheteau, 2000. "La quantité optimale de monnaie dans un modèle avec appariements aléatoires," Annals of Economics and Statistics, GENES, issue 58, pages 101-142.
    • Handle: RePEc:adr:anecst:y:2000:i:58:p:101-142
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    File URL: http://www.jstor.org/stable/20076229
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    Cited by:

    1. Guillaume Rocheteau & Randall Wright, 2003. "Inflation and Welfare in Models with Trading Frictions," PIER Working Paper Archive 03-032, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    2. Aleksander Berentsen & Guillaume Rocheteau & Shouyong Shi, 2007. "Friedman Meets Hosios: Efficiency in Search Models of Money," Economic Journal, Royal Economic Society, vol. 117(516), pages 174-195, January.
    3. Aleksander Berentsen & Guillaume Rocheteau, 2002. "Money in Bilateral Trade," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 138(IV), pages 489-506, December.

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