Narrow search
Showing 1 - 10 of 19
Cover Image
The shadow economy as an equilibrium outcome
Gomis-Porqueras, Pedro; Peralta-Alva, Adrian; Waller, … - In: Journal of Economic Dynamics and Control 41 (2014) C, pp. 1-19
is the ‘shadow economy’ in our model. We then calibrate our model using money, interest rate and GDP data to back out the …
Persistent link: https://www.econbiz.de/10011051901
Cover Image
The Distribution of Money and Prices in an Equilibrium with Lotteries
Berentsen, Aleksander; Camera, Gabriele; Waller, Christopher - Institut für Volkswirtschaftslehre, …
We construct a tractable model of divisible money and equilibrium heterogeneity in money balances and prices. We do so … by considering randomized monetary trades in a standard search-theoretic model of money where agents can hold multiple … observed in numerically simulated economies with fully divisible money and price heterogeneity. …
Persistent link: https://www.econbiz.de/10005463523
Cover Image
Bargaining and the value of money
Rocheteau, Guillaume; Waller, Christopher - Federal Reserve Bank of Cleveland - 2005
model with divisible money, we show how this choice matters for important results such as the ability of the optimal …
Persistent link: https://www.econbiz.de/10005428388
Cover Image
Money, Credit and Banking
Berentsen, Aleksander; Camera, Gabriele; Waller, Christopher - CESifo - 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/10005405820
Cover Image
Bargaining in Monetary Economies
Waller, Christopher; Rocheteau, Guillaume - Society for Economic Dynamics - SED - 2005
Persistent link: https://www.econbiz.de/10005090837
Cover Image
Money, Credit and Banking
Berentsen, Aleksander; Camera, Gabriele; Waller, Christopher - Institut für Volkswirtschaftslehre, …
In many situations, some people hold large money balances but have no particular urgency to spend them while others are …
Persistent link: https://www.econbiz.de/10005627993
Cover Image
On the theoretical efficacy of quantitative easing at the zero lower bound
Boel, Paola; Waller, Christopher - 2015
Persistent link: https://www.econbiz.de/10011392873
Cover Image
The shadow economy as an equilibrium outcome
Gomis-Porqueras, Pedro; Peralta-Alva, Adrian; Waller, … - In: Journal of economic dynamics & control 41 (2014), pp. 1-19
Persistent link: https://www.econbiz.de/10010424344
Cover Image
On the theoretical efficacy of quantitative easing at the zero lower bound
Boel, Paola; Waller, Christopher - 2015
We construct a monetary economy in which agents face aggregate demand shocks and heterogeneous idiosyncratic preference shocks. We show that, even when the Friedman rule is the best interest rate policy the central bank can implement, not all agents are satiated at the zero lower bound and...
Persistent link: https://www.econbiz.de/10011338171
Cover Image
Jack of all trades or a master of one? : Specialization, trade, and money
Camera, Gabriele; Reed, Robert R.; Waller, Christopher - In: International economic review 44 (2003) 4, pp. 1275-1294
Persistent link: https://www.econbiz.de/10001810086