"This paper studies the relationship between civil war and private investment in a poor, resource abundant country …

Lagos and Wright (2005) demonstrate how the essential properties of a money-search model are preserved in an … markets under limited commitment and private information. The analysis demonstrates clearly how insurance, credit, and money … the Friedman rule. In particular, I find that the same frictions that render money essential may at the same time operate …

This paper offers a methodological contribution to monetary theory. First, it presents a model economy with cash …

rate. Money’s role in monetary policy has been tertiary, at best. Indeed, several influential economists have suggested … that money is irrelevant for monetary policy. They suggest that central banks can control inflation by (i) controlling a … rate in order to exert greater control over longer-term rates. I offer an alternative perspective: namely, that money is …

held, and of the amount held abroad. Most macroeconomic models that address the role of outside money as a determinant of …