This essay is a contribution to the empirical literature on the effect of inflation tax on capital structure. A simple empirical model considering the main results of the current theoretical development is studied, using microdata from a number of American corporations.

This paper analyzes a spatial competitive monopolistic model of agglomeration in which households make only one shopping trip per period, and there are several firms in each industry. The model is a version of a model by Fujita (1988), but unlike his, in this model no equilibrium mixed district...

The main goal of this essay is to analyze the emergence of a barter economy, and the rise of centralized merchants and a barter redistribution system out of a primitive barter system. The environment is a spatial general equilibrium model where exchange is costly. Since exchange becomes more...

This paper develops a general equilibrium model and proposes a theory to explain the main stylized facts about the growth of barter transactions in Russia during the 1990s. Because of the high opportunity cost of using fiat money, with a tight enough credit market it may be optimal for firms to...

This paper proposes a theoretical monetary model to inquire as to whether the growth and decline in barter transactions between firms in Russia during the 1990s was the result of credit rationing or firms' optimal decision. The model also provides an explanation for the negative correlations...

This paper sets up a model to inquire into whether the rise and fall in barter transactions in Russia and other CIS countries during the 1990’s was an involuntary decision resulting from credit rationing or the consequence of firms’ optimal choice. We find that the transmission mechanism of...

This essay is a contribution to the empirical literature on the effect of inflation tax on capital structure. A simple empirical model considering the main results of the current theoretical development is studied, using microdata from a number of American corporations.