Credit Money As a Fourth Form in Marx's Circuit and in the Demonstration That the Relation Between the Financial Circulation …

Hamiltonian is taken by the total money supply (i.e. including money created from debt) of a set of interacting economic agents …

Search theoretic models of money emphasize monetary exchange as the outcome of economic environments characterized by … bilateral trading frictions. This paper analyzes the efficiency of monetary exchange in a search model of fiat money where …

money but it is the organising feature of modern economies, giving rise to both episodes of stability and crises. In … constructing this argument I consider both orthodox and heterodox points of view. We analyse equilibrium models of money, and find … that while money can exist in sequence economies with frictions, models of this type give no justification for its creation …