This paper extends the Kiyotaki-Wright search model of fiat money to allow for divisible money and goods. The extension allows me to examine the standard issues on monetary economics, such as the neutrality and super-neutrality of money, by severing the artificial link in the Kiyotaki-Write model between the money supply and the number of money holders.
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Paper provided by Queen's University, Department of Economics in its series Working Papers with number
930.
Find related papers by JEL classification: E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
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