Monetary Economics'. The New Monetary Economics predicts that deregulation and financial innovation will lead to a moneyless … world. This paper uses a market microstructure approach to show that a common medium of exchange that serves as unit of …

Monetary Economics’. The New Monetary Economics predicts that deregulation and financial innovation will lead to a moneyless … world. This paper uses a market microstructure approach to show that a common medium of exchange that serves as unit of …

Monetary Economics’. The New Monetary Economics predicts that deregulation and financial innovation will lead to a moneyless … world. This paper uses a market microstructure approach to show that a common medium of exchange that serves as unit of …