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Search for a Theory of Money (Now published as 'A Search-Theoretic Approach to Monetary Economics' in The American Economic Review, vol.83, No.1, (March 1993), pp.63-77.)
Kiyotaki, Nobuhiro; Wright, Randall - Suntory and Toyota International Centres for Economics … - 1990
Persistent link: https://www.econbiz.de/10005797420
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On Money as a Medium of Exchange.
Kiyotaki, Nobuhiro; Wright, Randall - In: Journal of Political Economy 97 (1989) 4, pp. 927-54
The authors analyze economies in which individuals specialize in consumption and production and meet randomly over time in a way that implies that trade must be bilateral and quid pro quo. Nash equilibria in trading strategies are characterized. Certain goods emerge endogenously as media of...
Persistent link: https://www.econbiz.de/10005732909
Cover Image
Search for a Theory of Money (Now published as 'A Search-Theoretic Approach to Monetary Economics' in The American Economic Review, vol.83, No.1, (March 1993), pp.63-77.)
Kiyotaki, Nobuhiro; Wright, Randall - Suntory and Toyota International Centres for Economics … - 1990
Persistent link: https://www.econbiz.de/10010720171