Is Barter a Hobson’s Choice? A theory of barter and credit rationing
AbstractThis paper proposes a theoretical monetary model to inquire as to whether the growth and decline in barter transactions between firms in Russia during the 1990s was the result of credit rationing or firms' optimal decision. The model also provides an explanation for the negative correlations between the share of total transactions between firms conducted through barter and inflation, and also to the quick decline in barter transactions that followed the 1998 currency crisis.
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Bibliographic InfoPaper provided by The Center for Economic Research and Graduate Education - Economic Institute, Prague in its series CERGE-EI Working Papers with number wp239.
Date of creation: Sep 2004
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Barter; Interest rate; Credit rationing; Optimal choice.;
Find related papers by JEL classification:
- E0 - Macroeconomics and Monetary Economics - - General
- E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
- E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- P24 - Economic Systems - - Socialist Systems and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation
- P26 - Economic Systems - - Socialist Systems and Transition Economies - - - Political Economy
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