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Persistent link: https://www.econbiz.de/10010528114
Remittances are vitally important for the families of migrants (providing disposable funds), for developing country governments (as a valuable inflow of funds into their country) and for banks in receiving countries (by providing foreign currency and access to new potential customers). The...
Persistent link: https://www.econbiz.de/10011799540
Geldwirtschaft im zweistufigen Bankensystem sowie anhand eines bestands- und flussgrößenkonsistenten Modells. Ergebnis des Modells … ist, dass die Funktionsweise der Geldwirtschaft wirtschaftliches Wachstum bedingt. Die „Notwendigkeit von Wachstum“ ist … ökonomische Wachstumsnotwendigkeit ergibt sich dabei nicht aus der Geldwirtschaft an sich – und auch nicht alleine aus einem …
Persistent link: https://www.econbiz.de/10011495645
I study an economy in which money and credit coexist as means of payment and the settlement of credit requires money. The model extends recent developments in microfounded monetary theory to address the choice of payment methods and the effects of inflation. Whether a buyer uses money or credit...
Persistent link: https://www.econbiz.de/10010279874
Recent studies on counterfeiting in a monetary search framework show that counterfeiting does not occur in a monetary equilibrium. These findings are inconsistent with the observation that counterfeiting of bank notes has been a serious problem in some countries. In this paper, we show that...
Persistent link: https://www.econbiz.de/10010280006
Persistent link: https://www.econbiz.de/10005856106
In this paper, we study a decentralized monetary economy witha speci…ed set of markets, rules of trade, an equilibrium concept, and a restricted setof policies and derive a set of equilibrium (monetary) allocations generated by thesepolicies. Next we set up a simpler constrained planning...
Persistent link: https://www.econbiz.de/10009360850
In this paper, we explore the connection between optimal monetary policy and heterogeneityamong agents. We study a standard monetary economy with two types of agents inwhich the stationary distribution of money holdings is non-degenerate. Sans type-specific fiscalpolicy, we show that the...
Persistent link: https://www.econbiz.de/10009360901
Dieses Papier soll als wissenschaftliche Grundlage einer Diskussion über die Vereinbarkeit einer positiven Zinsrate mit einer nicht mehr wachsenden Wirtschaft dienen. Erst eine Auseinandersetzung mit den komplexen und teils widersprüchlichen Fragen der Wirtschaftswissenschaft erlaubt, zu...
Persistent link: https://www.econbiz.de/10012601839
Whether a theoretical system is realistic or not has been a concern in economics, particularly in monetary theory, over the past century. Following John R. Hicks' proposal that a realistic monetary theory could be constructed along an evolutionary path, starting with the workings of a real...
Persistent link: https://www.econbiz.de/10012648074