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Viewpoint: A microfoundation of monetary economics

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  • Shouyong Shi

Abstract

In this lecture, I explain what the microfoundations of money are about and why they are necessary for monetary economics. Then, I review recent developments of a particular microfoundation of money, commonly known as the search theory of money. Finally, I outline some unresolved issues. Dans cette présentation, l'auteur explique ce que sont les microfondations de la monnaie, et pourquoi elles sont nécessaires à l'économie monétaire. Ensuite, il passe en revue certains développements récents d'une microfondation particulière de la monnaie connue sous le nom de ≪théorie de la recherche≫ de la monnaie. Enfin, l'auteur fait le tour d'un ensemble de problèmes qui restent sans solution pour le moment.

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  • Shouyong Shi, 2006. "Viewpoint: A microfoundation of monetary economics," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 39(3), pages 643-688, August.
  • Handle: RePEc:wly:canjec:v:39:y:2006:i:3:p:643-688
    DOI: 10.1111/j.1540-5982.2006.00364.x
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    3. Fernando M. Martin, 2013. "Government Policy In Monetary Economies," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 54(1), pages 185-217, February.
    4. Shoujian Zhang, 2014. "Search Frictions, Job Flows and Optimal Monetary Policy," CDMA Working Paper Series 201402, Centre for Dynamic Macroeconomic Analysis.
    5. Martin Menner, 2011. ""Gesell Tax" and Efficiency of Monetary Exchange," Working Papers. Serie AD 2011-26, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).

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