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A Microfoundation of Monetary Economics

  • Shouyong Shi

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.

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Paper provided by University of Toronto, Department of Economics in its series Working Papers with number tecipa-211.

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Length: 47 pages
Date of creation: 07 Mar 2006
Date of revision:
Handle: RePEc:tor:tecipa:tecipa-211
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  3. Wang, Weimin & Shi, Shouyong, 2006. "The variability of velocity of money in a search model," Journal of Monetary Economics, Elsevier, vol. 53(3), pages 537-571, April.
  4. Qing Liu & Shouyong Shi, 2005. "Currency Areas and Monetary Coordination," 2005 Meeting Papers 575, Society for Economic Dynamics.
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