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Money, Payments, and Liquidity (The MIT Press) free ebook download

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Finances and Money

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Author(s):	Guillaume Rocheteau

Date:	2021	Format:	pdf	Language:	English	ISBN/ASIN:	0262533278
Pages:	504	OCR:		Quality:		ISBN13:
Uploader:	eternal	Upload Date:	7/8/2021 6:11:41 AM

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A new edition of a book presenting a unified framework for studying the role of money and liquid assets in the economy, revised and updated.
In Money, Payments, and Liquidity, Guillaume Rocheteau and Ed Nosal provide a comprehensive investigation into the economics of money, liquidity, and payments by explicitly modeling the mechanics of trade and its various frictions (including search, private information, and limited commitment). Adopting the last generation of the New Monetarist framework developed by Ricardo Lagos and Randall Wright, among others, Nosal and Rocheteau provide a dynamic general equilibrium framework to examine the frictions in the economy that make money and liquid assets play a useful role in trade. They discuss such topics as cashless economies  the properties of an asset that make it suitable to be used as a medium of exchange  the optimal monetary policy and the cost of inflation  the coexistence of money and credit  and the relationships among liquidity, asset prices, monetary policy  and the different measures of liquidity in over-the-counter markets.
The second edition has been revised to reflect recent progress in the New Monetarist approach to payments and liquidity. Rocheteau and Nosal have added three new chapters: on unemployment and payments, on asset price dynamics and bubbles, and on crashes and recoveries in over-the-counter markets. The chapter on the role of money has been entirely rewritten, adopting a mechanism design approach. Other chapters have been revised and updated, with new material on credit economies under limited commitment, open-market operations and liquidity traps, and the limited pledgeability of assets under informational frictions.

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Money, Payments, and Liquidity (The MIT Press) free ebook download

Category: Finances and Money

Description: Click to see full description

Category:
Finances and Money