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On the micro-foundations of money: The Capitol Hill Baby-Sitting Co-op

Hens, Thorsten; Schenk-Hoppe, Klaus Reiner; Vogt, Bodo - 2003

This paper contributes to the micro-foundation of money in centralized markets with idiosyncratic uncertainty. It shows existence of stationary monetary equilibria and ensures that there is an optimum quantity of money. The rational solution of our model is compared with actual behavior in a...

Persistent link: https://www.econbiz.de/10010295388

The Demand for Currency Substitution

Seater, John J. - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-35, pp. 1-30

the model. Independent empirical work provides support for the theory. …

Persistent link: https://www.econbiz.de/10010298619

Persistency and Money Demand Distortions in a Stochastic DGE Model with Sticky Prices and Capital

Gail, Michael - 2002

This paper considers the implications of adding capital as a factor of production in a stochastic DGE model with sticky prices. Particular attention is given to the role of money demand and to the form of the utility function. I consider cash-in-advance- (CIA) as well as...

Persistent link: https://www.econbiz.de/10010322084

Persistency and Money Demand Distortions in a Stochastic DGE Model with Sticky Prices

Gail, Michael - 2001

Recently macroeconomists have intensified their efforts to develop models that are able to generate persistent reactions of real variables to monetary shocks in stochastic DGE models with nominal rigidities. This has proven to be quite difficult in models with price staggering only. Most papers...

Persistent link: https://www.econbiz.de/10010322088

Issues in stability of European money demand: Adjustment speed versus error variance

Läufer, Nikolaus K. A. - 1997

The current discussion about stability of the European money demand function is flawed by a confusion of two different concepts of stability (adjustment speed versus error variance). The meaning and importance of the underlying notions of stability is clarified. It is demonstrated that necessary...

Persistent link: https://www.econbiz.de/10010398202

Netzgeld als Transaktionsmedium

Kabelac, Gabriele - 1999

Elektronisches Geld stellt die (vorerst) neueste Innovation im Bereich des Zahlungsverkehrs dar. Inwieweit sich aus seiner Verbreitung Konsequenzen für die Geldpolitik ergeben, hängt nicht zuletzt davon ab, in welchem Umfang elektronisches Geld vom Publikum tatsächlich zu Zahlungszwecken...

Persistent link: https://www.econbiz.de/10010478856

Cyber money as a medium of exchange

Kabelac, Gabriele - 1999

Electronic money constitutes (for the time being) the most recent innovation in payment instruments. The extent to which the further spread of electronic money might have consequences for monetary policy depends not least on the actual demand for electronic money. Numerous studies have sought to...

Persistent link: https://www.econbiz.de/10010478857

Gibt es aus portfoliotheoretischer Sicht eine Liquiditätsfalle?

Läufer, Nikolaus K. A. - 2004

In der Makroökonomik werden Liquiditätsfallen ohne Mikrofundierung als existent angenommen und die Japan-Krise hat Liquiditätsfallen wieder zum Diskussionsthema gemacht. Deshalb wird die Frage der Existenz von Liquiditätsfallen hier portfolio-theoretisch untersucht im Rahmen eines...

Persistent link: https://www.econbiz.de/10010308434

Preferential trade agreements: The case of EU-Mexico

Busse, Matthias; Huth, Matthias; Koopmann, Georg - 2000

The paper evaluates the political and economic incentives to conclude the EU-Mexico Free Trade Agreement (FTA). It … the EU is likely to gain much more than Mexico. … EU und Mexiko bewertet. Dafür werden die europäische und mexikanische Handelspolitik analysiert und der multilaterale …

Persistent link: https://www.econbiz.de/10010295609

Tomatoes or Tomato Pickers? - Free Trade and Migration in the NAFTA Case

del Río, Amaranta Melchor; Thorwarth, Susanne - 2006

This paper examines the relationship between trade liberalisation and migration in the case of Mexico. The increasing … bilateral trade between Mexico and the United States after signing the North American Free Trade Agreement (NAFTA) was supposed … for illegal migration. The results indicate that increasing trade flows cause larger illegal migration from Mexico to the …

Persistent link: https://www.econbiz.de/10011422132

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