different mechanisms, extends existing work on the microfoundations of money by allowing a general matching technology and …

. We show that the same frictions that give fiat money a positive value generate an inefficient quantity of goods in each …

We develop an experimental framework to investigate the quantity theory of money and the real effects of inflation in … an economy where money serves as a medium of exchange. We test the classical view that inflation reduces output and … welfare by taxing monetary exchange. Inflation is engineered by constant money growth. We conduct three treatments, where the …

In this article cash competes with mobile money (M-money) in order to settle low-value transactions in the retail trade …. Only an exogenous fraction of “mobile sellers” accepts M-money and creates partnerships with buyers to reduce search …. Therefore, in a transaction between a buyer and a « mobile seller » M-money will be used as the medium of exchange. In the case …

and monetary policy formalized as changes in a country’s money growth rate. Results from the experiments indicate subjects …

equilibrium model. Agents are subject to liquidity shocks which can be partially insured in a secured money market, or at a … and that a shift of the corridor affects the money market rate one for one. Moreover, the central bank can tighten its …

This paper reports findings from an experiment that implements a search-theoretic model of money as a medium of …