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This paper in applied theory argues that there is a loose chain of reasoning connecting the following three basic links …
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This paper in applied theory argues that there is a loose chain of reasoning connecting the following three basic links …
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This paper studies the welfare costs and the redistributive effects of inflation in the presence of idiosyncratic liquidity risk, in a micro-founded search-theoretical monetary model. We calibrate the model to match the empirical aggregate money demand and the distribution of money holdings...
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