Communal responsibility, a medieval institution studied by Greif (2006), supported the use of credit among European …. Enforceability within each village's centralized afternoon market ensures collateralization of credit in decentralized markets. In … the resulting equilibrium, money and credit coexist in decentralized markets if the use of credit is costly. Our analysis …

. -- Communal responsibility ; anonymous matching ; money demand ; credit ; bills of exchange …Communal responsibility, a medieval institution studied by Greif (2006), supported the use of credit among European …. Enforceability within each village's centralized afternoon market ensures collateralization of credit in decentralized markets. In …

alternative means of payment such as credit cards. The main feature of the model is that cash circulates between economic … activities where the substitutability between cash and other means of payment is uneven. Our model predicts that, once credit … expands beyond a certain level, agents adjust their cash management practices in response to further credit expansions …

How does banking competition affect credit provision and growth? How does it affect financial stability? In order to … century National Banking Era. We show that banks operating in markets with lower entry barriers extend more credit. The … resulting local credit boom, in turn, is associated with an expansion in real economic activity. However, banks in markets with …

credit eases liquidity constraints of households, which is likely to lead to higher demand for housing. On the other hand …. Understanding the two-way interaction between housing prices and credit is of importance, since the interdependence is likely to …

I study an economy in which money and credit coexist as means of payment and the settlement of credit requires money … effects of inflation. Whether a buyer uses money or credit depends on the fixed cost of credit and the inflation rate. In … particular, inflation not only makes money less valuable, but also makes credit more expensive because of delayed settlement …

The complexity of credit-money is conceived as the central issue in the banking-macro nexus, which the authors consider … consumption. The evolution of credit rules shapes economic networks between households, firms, banks, governments and central …

The complexity of credit money is seen as the central issue in the banking-macro nexus, which the author considers as a … of credit rules shapes economic networks between households, firms, banks, governments and central banks in space and … in agent-based models of the banking-macro nexus. -- 20th century origins of the theory of money ; Schumpeterian credit …