In a stochastic pure endowment economy with money but no financial markets, two types of agents trade one non … money partition dynamics that the two variants generate absent any macroeconomic shock, exhibit jumps as well as fat …

bank, or indirectly through portfolio re-balancing of private investors. We quantify both the direct and the portfolio re …-balancing effects, we construct a novel shift-share instrument to measure investors' quasi-exogenous exposure to central bank purchases … eligible securities to the central bank and re-balance their portfolios towards ineligible securities, with investors ex …

tools, their content and the environment in which they are employed. - Central bank ; financial stability ; communication …

-run supply of bank credit. As U.S. bond rates have fallen, the pass-through of monetary shocks to loan and deposit rates has … weakened while the spread on U.S. bank loans has risen. I build a model in which banks earn deposit and loan spreads, deposits … compete with money, and banks' lending capacity depends on their equity. The short-run transmission of monetary policy is …

not created due to a hold-up problem. Monetary expansion increases buyers' money holdings, and then, dealers are willing …

goods trade model which also captures trade through time in the form of inside money as used in macro literature on one good … way. -- Inside money ; general equilibrium ; Nash equilibrium ; numerical analysis ; tariff rate …

rate of growth of capital asset or income whether source of borrowing is bank or money lender. This is then formalized in a …