Similar Search Results

Andolfatto, David; Berentsen, Aleksander; Martin, … - 2017

The fact that money, banking, and financial markets interact in important ways seems self-evident. The theoretical … for government money, where the terms of bank deposit contracts are constrained by the liquidity insurance available in …

Persistent link: https://www.econbiz.de/10011969184

On the Friedman Rule in Search Models with Divisible Money

Berentsen, Aleksander; Rocheteau, Guillaume - In: Contributions in Macroeconomics 3 (2003) 1

This paper studies the validity of the Friedman rule in a search model with divisible money and divisible goods in … the one emphasized in the labor-market literature. Buyers cannot obtain the full return that an additional unit of money … provides to the match, which makes the purchasing power of money inefficiently low in equilibrium. Consequently, even though …

Persistent link: https://www.econbiz.de/10014588437

Money, credit and banking

Berentsen, Aleksander; Camera, Gabriele; Waller, … - 2005

In monetary models in which agents are subject to trading shocks there is typically an ex-post inefficiency in that some agents are holding idle balances while others are cash constrained. This inefficiency creates a role for financial intermediaries, such as banks, who accept nominal deposits...

Persistent link: https://www.econbiz.de/10010277060

Limelight on dark markets: An experimental study of liquidity and information

Berentsen, Aleksander; McBride, Michael; Rocheteau, … - 2013

The goal of this paper is to study how informational frictions affect asset liquidity in OTC markets in a laboratory setting. The experiments replicate an OTC market similar to the one used in monetary and financial economics (Shi, 1995; Trejos and Wright, 1995; Duffie, Garleanu, and Pedersen, 2005):...

Persistent link: https://www.econbiz.de/10010316877