Alvarez Garrido, Fernando (contributor); … - 2003 - [Elektronische Ressource]
to exchange money for assets. As inflation varies, the benefitofassetmarketparticipation
varies, and that changes the … model and the standard cash-in-advance model is that here agents must
pay a fixed cost to transfer money between the goods … margin, freely exchange money and bonds. Agents with a fixed
transfer cost higher than the cutofflevel choose not to pay it …