Private Money and Reserve Management in a Random Matching Model
We introduce an element of centralization in a random matching model of money that allows for private liabilities to circulate as media of exchange. Some agents which we identify as banks, are endowed with the technology to issue notes and to record-keep reserves with a central clearinghouse, which wa call the treasory. Classification-JEL: E40; E41
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|Date of creation:||1997|
|Date of revision:|
|Contact details of provider:|| Postal: Department of Economics, Reference Centre, Social Science Centre, University of Western Ontario, London, Ontario, Canada N6A 5C2|
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