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Money, Banking, and Monetary Policy

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  • Randall Wright

    (University of Pennsylvania)

  • Lixin Huang

    (Georgia State University)

  • Ping He

    (Tsinghua University)

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Abstract

parameters optimal; for other parameters, strictly positive rates (inflation above the Friedman Rule) are optimal.

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Bibliographic Info

Paper provided by Society for Economic Dynamics in its series 2008 Meeting Papers with number 347.

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Date of creation: 2008
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Handle: RePEc:red:sed008:347

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Postal: Society for Economic Dynamics Christian Zimmermann Economic Research Federal Reserve Bank of St. Louis PO Box 442 St. Louis MO 63166-0442 USA
Fax: 1-314-444-8731
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Web page: http://www.EconomicDynamics.org/society.htm
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References

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  1. Kocherlakota, Narayana R., 1998. "Money Is Memory," Journal of Economic Theory, Elsevier, Elsevier, vol. 81(2), pages 232-251, August.
  2. Aleksander Berentsen & Gabriele Camera, 2004. "Money, Credit, and Banking," 2004 Meeting Papers, Society for Economic Dynamics 473, Society for Economic Dynamics.
  3. David Andolfatto & Ed Nosal, 2003. "A theory of money and banking," Working Paper, Federal Reserve Bank of Cleveland 0310, Federal Reserve Bank of Cleveland.
  4. D. M. Joslin, 1954. "London Private Bankers, 1720–1785," Economic History Review, Economic History Society, Economic History Society, vol. 7(2), pages 167-186, December.
  5. Wallace, Neil, 2001. "Whither Monetary Economics?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 42(4), pages 847-69, November.
  6. Neil Wallace, 2005. "From Private Banking To Central Banking: Ingredients Of A Welfare Analysis," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 46(2), pages 619-631, 05.
  7. Wilko Bolt & Sujit Chakravorti, 2008. "Consumer Choice and Merchant Acceptance of Payment Media," DNB Working Papers, Netherlands Central Bank, Research Department 197, Netherlands Central Bank, Research Department.
  8. Ricardo de O. Cavalcanti & Neil Wallace, 1999. "A model of private bank-note issue," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 2(1), pages 104-136, January.
  9. Cavalcanti, Ricardo & Erosa, Andres & Temzelides, Ted, . "Private Money and Reserve Management in a Random Matching Model," Working Papers, University of Iowa, Department of Economics 97-17, University of Iowa, Department of Economics, revised Sep 1997.
  10. Araujo, Luis, 2004. "Social norms and money," Journal of Monetary Economics, Elsevier, Elsevier, vol. 51(2), pages 241-256, March.
  11. de O. Cavalcanti, Ricardo & Erosa, Andrés & Temzelides, Ted, 2004. "Liquidity, money creation and destruction, and the returns to banking," Working Paper Series, European Central Bank 0394, European Central Bank.
  12. Robert M. Hunt, 2003. "An introduction to the economics of payment card networks," Working Papers 03-10, Federal Reserve Bank of Philadelphia.
  13. Kahn, Charles M. & Roberds, William, 2008. "Credit and identity theft," Journal of Monetary Economics, Elsevier, Elsevier, vol. 55(2), pages 251-264, March.
  14. D. Aliprantis, C. & Camera, G. & Puzzello, D., 2007. "Anonymous markets and monetary trading," Journal of Monetary Economics, Elsevier, Elsevier, vol. 54(7), pages 1905-1928, October.
  15. Aleksander Berentsen & Guillaume Rocheteau, 2004. "Money and Information," Review of Economic Studies, Oxford University Press, vol. 71(4), pages 915-944.
  16. Ping He & Lixin Huang & Randall Wright, 2005. "Money And Banking In Search Equilibrium," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 46(2), pages 637-670, 05.
  17. Ricardo de O. Cavalcanti & Neil Wallace, 1999. "Inside and outside money as alternative media of exchange," Proceedings, Federal Reserve Bank of Cleveland, Federal Reserve Bank of Cleveland, pages 443-468.
  18. Charles M. Kahn & James McAndrews & William Roberds, 2005. "Money Is Privacy," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 46(2), pages 377-399, 05.
  19. Steve Williamson & Randall Wright, 1991. "Barter and monetary exchange under private information," Staff Report, Federal Reserve Bank of Minneapolis 141, Federal Reserve Bank of Minneapolis.
  20. Quinn, Stephen, 1997. "Goldsmith-Banking: Mutual Acceptance and Interbanker Clearing in Restoration London," Explorations in Economic History, Elsevier, Elsevier, vol. 34(4), pages 411-432, October.
  21. Manolis Galenianos & Philipp Kircher, 2008. "A model of money with multilateral matching," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library 29701, London School of Economics and Political Science, LSE Library.
  22. Gorton, Gary & Winton, Andrew, 2003. "Financial intermediation," Handbook of the Economics of Finance, Elsevier, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, edition 1, volume 1, chapter 8, pages 431-552 Elsevier.
  23. Nosal, Ed & Wallace, Neil, 2007. "A model of (the threat of) counterfeiting," Journal of Monetary Economics, Elsevier, Elsevier, vol. 54(4), pages 994-1001, May.
  24. John Boyd & Bruce Champ, 2003. "Inflation and financial market performance: what have we learned in the last ten years," Working Paper, Federal Reserve Bank of Cleveland 0317, Federal Reserve Bank of Cleveland.
  25. Guillaume Rocheteau & Christopher Waller, 2005. "Bargaining and the value of money," Working Paper, Federal Reserve Bank of Cleveland 0501, Federal Reserve Bank of Cleveland.
  26. Dean Corbae & Ted Temzelides & Randall Wright, 2003. "Directed Matching and Monetary Exchange," Econometrica, Econometric Society, Econometric Society, vol. 71(3), pages 731-756, 05.
  27. Monnet, Cyril, 2005. "Counterfeiting and inflation," Working Paper Series, European Central Bank 0512, European Central Bank.
  28. Kiyotaki, Nobuhiro & Wright, Randall, 1989. "On Money as a Medium of Exchange," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 97(4), pages 927-54, August.
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