MONEY AS A MEDIUM OF EXCHANGE WHEN GOODS VARY BY SUPPLY AND DEMAND
| العنوان: | MONEY AS A MEDIUM OF EXCHANGE WHEN GOODS VARY BY SUPPLY AND DEMAND |
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| المؤلفون: | Randall Wright, Xavier Cuadras-Morató |
| المصدر: | Macroeconomic Dynamics. 1:680-700 |
| بيانات النشر: | Cambridge University Press (CUP), 1997. |
| سنة النشر: | 1997 |
| مصطلحات موضوعية: | Microeconomics, Economics and Econometrics, Endogenous money, Demand deposit, Demand shock, Financial transaction, Fiat money, Economics, TheoryofComputation_GENERAL, Commodity money, Monetary economics, Velocity of money, Aggregate demand |
| الوصف: | Models of the exchange process based on search theory can be used to analyze the features of objects that make them more or less likely to emerge as money in equilibrium. These models illustrate the trade-off between endogenous acceptability (an equilibrium property) and intrinsic characteristics of goods, such as storability or recognizability. We look at how the relative supply and demand for various goods affect their likelihood of becoming money. Intuitively, goods in high demand and/or low supply are more likely to appear as commodity money, subject to the qualification that which object ends up circulating as a medium of exchange depends at least partly on convention. Welfare properties and fiat money are discussed. |
| تدمد: | 1469-8056 1365-1005 |
| الوصول الحر: | https://explore.openaire.eu/search/publication?articleId=doi_________::2ccda8fedbc80ce994aa5be56625c80dTest https://doi.org/10.1017/s1365100597005026Test |
| حقوق: | OPEN |
| رقم الانضمام: | edsair.doi...........2ccda8fedbc80ce994aa5be56625c80d |
| قاعدة البيانات: | OpenAIRE |
| تدمد: | 14698056 13651005 |
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