La quantité optimale de monnaie dans un modèle avec appariements aléatoires

Guillaume Rocheteau

Annals of Economics and Statistics, 2000, issue 58, 101-142

Abstract: This article determines the optimum quantity of money for various extensions of the search-theoretic model of fiat money and examines the robustness of the Kiyotaki and Wright's results in the presence of money and inventory holdings. In the case of a bound on money holdings, the optimum quantity of money is reached when the distribution of money among agents is uniform. The choice of this upper bound by rational agents generates multiple equilibria.

Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:2000:i:58:p:101-142

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