money has nothing to do with traded output, but everything to do with storing value. But now a new trade theory takes over … monetary theory, by reducing money into a mere tool of trade, as just a means of payment. It takes over theory of exchange … arbitrage, and payments through seigniorage (by creating and issuing money). Suddenly economics studies economy rather than …

-in-advance constraints. The total amount of money is supplied by an authority, which produces at no cost and lends money to agents at short …

indirect trade, money also must be used. Micro says that price is equal to marginal cost, rejecting trade theory’s claim that … trade is gainful. To remove these and other contradictions, price theory must be repaired. Money’s role in market clearing …

individuals use money to make transactions, and hence microfoundations for the cash in advance constraint. We analyze the … specialized merchant, the carrier, appears and causes frictions among traders leading to the appearance of money. There are … chosen to act as money, and the level of economic development. …

in a search-theoretic model of money where agents have no time preference. The model is similar to the authors' recent … models of search economies with no constraints on money inventories, except that here money is modeled as indivisible and …This paper studies the existence of single-price price equilibrium from a given initial distribution of money holdings …

Extensive theoretical analysis of electronic money and electronic money systems based on quantum theoretical approach …. Fundamental critique to traditional approach to electronic money. …

We study search behavior in a generalized "secretary problem" environment in which consumers search sequentially for … make no distributional assumptions about the quality of the alternatives. Rather, at each stage of the search the consumers …. Our study departs from previous experimental investigations of the secretary problem by including search costs and …

of costly search to discover prices. We ask whether such equilibria can be learnt when sellers adjust prices adaptively …

innovations, therefore, should lead to the same qualitative effects in the financial and goods markets as money supply innovations … Autoregression (VAR) methods, the responses of interest rates, equity prices, consumer prices and output to velocity and money supply …, money supply and velocity innovations seem to affect financial markets in opposite directions. While it is observed that …