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Money, trade credit and asset prices
Lacker, Jeffrey M.; Schreft, Stacey L. - Federal Reserve Bank of Richmond - 1991
We describe a stochastic economic environment in which the mix of money and trade credit used as means of payment is … monetary policy and for time series analysis using money and trade credit. …
Persistent link: https://www.econbiz.de/10004993896
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Stored value cards: costly private substitutes for currency
Lacker, Jeffrey M. - Federal Reserve Bank of Richmond - 1996
A model in which both currency and stored value cards are used to make payments is presented. I compare steady-state equilibria with and without stored value cards. Stored value cards are beneficial because they help alleviate the deadweight loss due to inflation. When the nominal interest rate...
Persistent link: https://www.econbiz.de/10004993915