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    On the local interaction of money and credit

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    yijinRED.pdf (218.7Kb)
    Issue Date
    2004-01
    Author
    Jin, Yi
    Temzelides, Ted
    Publisher
    ACADEMIC PRESS INC ELSEVIER SCIENCE
    Format
    224020 bytes
    Type
    Article
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    Abstract
    We study the coexistence of monetary and credit transactions in a model where exchange is decentralized. Agents belong to different locations which are informationally separated. The equilibrium mix of monetary and credit transactions is characterized as a function of the frequency of meetings among agents from different locations. Credit transactions take place only among a small set of "neighbors." Monetary trades emerge only if interactions with faraway locations are sufficiently frequent. Even in that case, trades among nearby locations remain non-monetized. (C) 2003 Elsevier Inc. All rights reserved.
    URI
    http://hdl.handle.net/1808/297
    DOI
    https://doi.org/10.1016/S1094-2025(03)00055-3
    Collections
    • Economics Scholarly Works [183]
    Citation
    Jin, Y; Temzelides, T. On the local interaction of money and credit. REVIEW OF ECONOMIC DYNAMICS. January 2004. 7(1):143-156

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    Contact KU ScholarWorks
    785-864-8983
    KU Libraries
    1425 Jayhawk Blvd
    Lawrence, KS 66045
    785-864-8983

    KU Libraries
    1425 Jayhawk Blvd
    Lawrence, KS 66045
    Image Credits
     

     

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