The second chapter presents a model with different types of liquidity - money and assets - and capital and focuses on endogenous differences in liquidity balances generated by differing access to asset markets as the portfolio of an agent can only be adjusted when a participation fee is paid....

This dissertation analyzes the role of money in three distinct environments based on two different modelling approaches. In two chapters, anonymous bilateral meetings create a need for a medium of payment that allows to keep track of consumption expenditures, and in one chapter, taxes must be...

In the third chapter, we propose a model where agents must use cash balances to pay taxes, recasting the coordination problem of monetary and fiscal policy. This gives rise to a change in the timing of real government revenue as the government acquires real goods by sale of real balances....