We formulate a generalization of the traditional medium-of-exchange function of money in contexts where there is … that the option to settle transactions directly with money strengthens the stance of sellers of goods and services vis …-á-vis intermediaries. We show this mechanism is operative even for sellers who never exercise the option to sell for cash, and that these …

magnitude of the unperceived money growth. The testing of this hypothesis requires two preliminary steps. First, a price … unperceived money growth. This estimation implies the postulation of an available information set and also a function relating the … variables in this set to money creation. The function used was based on considerations related to government demand for revenue …

annual wholesale price indexes for the period 1948-76. The data on money shocks are the unanticipated money growth series … results are negative. They reject the hypothesis that unexpected money shocks, as measured by Barro, affect price dispersion …

. A model of efficient barter and local inside money is developed to show how chronic specie scarcity in colonial America …

The 2020 CARES Act directed large cash payments to households. We analyze house-holds' spending responses using high …

What is the effect of cash injections during financial crises? Exploiting county-level variation arising from random … weather shocks during the 1980s Farm Debt Crisis, we analyze and measure the effect of local cash flow shocks on the real and … financial sector. We show that such cash flow shocks have significant impact on a host of economic outcomes, including land …

% of cash in circulation illegal tender overnight, with new notes gradually introduced over the next several months. We … present a model of demonetization where agents hold cash both to satisfy a cash-in-advance constraint and for tax evasion … cumulated effects provide a lower bound for the aggregate effects of demonetization. Our analysis rejects money non …

It has been long recognized that cash plays a critical role in fueling street crime due to its liquidity and … transactional anonymity. In poor neighborhoods where street offenses are concentrated, a significant source of circulating cash … circulation of cash on the streets associated with EBT implementation had an effect on crime. To address this question, we exploit …

Maryland's non-legal-tender paper money emissions between 1765 and 1775 are reconstructed to determine the quantities … outstanding and their redemption dates, providing a substantial correction to the literature. Over 80 percent of this paper money … barter asset and not a fiat currency. The liquidity premium was positively related to the amount of paper money per capita in …

We assess long-term impacts of the Mexican conditional cash transfer (CCT) program on youth employment and earnings. We …