Money and Credit : Theory and Applications /
We develop a theory of money and credit as competing payment instruments, then put it to work in applications. Buyers can use cash or credit, with the former (latter) subject to the inflation tax (transaction costs). Frictions that make the choice of payment method interesting also imply equilibrium...
| מחבר ראשי: | |
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| מחברים אחרים: | , |
| פורמט: | כתב-עת |
| שפה: | English |
| יצא לאור: |
Washington, D.C. :
International Monetary Fund,
2017.
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| סדרה: | IMF Working Papers; Working Paper ;
No. 2017/014 |
| גישה מקוונת: | Full text available on IMF |