Im Grunde möchte man diesem Buch eine weite Verbreitung wünschen: Es behandelt nicht nur die bisherige Politik der Europäischen Zentralbank eingehend und mit Vergleichen zur Politik anderer Zentralbanken (z.B. der Bundesbank), es werden auch breit volkswirtschaftliche Theorien des Geldes, der...

This dissertation analyzes the role of money in three distinct environments based on two different modelling approaches. In two chapters, anonymous bilateral meetings create a need for a medium of payment that allows to keep track of consumption expenditures, and in one chapter, taxes must be...

The first chapter studies a general equilibrium model of cash and bank deposits in a search framework of money. Buyers hold cash and deposit their savings in a bank account for liquidity insurance. Given that consumption goods are traded in anonymous meetings using cash, agents withdraw their...

The second chapter presents a model with different types of liquidity - money and assets - and capital and focuses on endogenous differences in liquidity balances generated by differing access to asset markets as the portfolio of an agent can only be adjusted when a participation fee is paid....

In the third chapter, we propose a model where agents must use cash balances to pay taxes, recasting the coordination problem of monetary and fiscal policy. This gives rise to a change in the timing of real government revenue as the government acquires real goods by sale of real balances....