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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
Contact details of provider: Postal: 150 St. George Street, Toronto, Ontario
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  8. Aleksander Berentsen & Guillaume Rocheteau & Shouyong Shi, . "Friedman Meets Hosios: Efficiency in Search Models of Money," IEW - Working Papers 154, Institute for Empirical Research in Economics - University of Zurich.
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  37. Weimin Wang & Shouyong Shi, 2006. "The Variability of Velocity of Money in a Search Model," Working Papers tecipa-190, University of Toronto, Department of Economics.
  38. Allen Head & Shouyong Shi, 2002. "A Fundamental Theory of Exchange Rates and Direct Currency Trades," Working Papers shouyong-03-01, University of Toronto, Department of Economics.
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