Les développements récents des modèles de prospection monétaire. Monnaie et formalisations des transactions

Vincent Bignon and Claire Compain

Revue d'économie politique, 2001, vol. 111, issue 3, 347-375

Abstract: The search-theoretic approach to monetary economics, initiated by the seminal papers of Kiyotaki and Wright [1989, 1993], offers a framework for the rationale of money, defined as an intrinsically useless object or good used as medium of exchange. This class of models has been criticized for the lack of realism and empirical relevance. This paper presents the recent developments which consist in the generalization of the search-based results regarding money circulation and in price endogeneization. From this perspective, recent literature enriches the formalization of transactions and negotiation technologies and provides empirical applications. Classification JEL : E00, E41, D40

Keywords: money as a mean of payment; organization of exchanges; bargaining (search for similar items in EconPapers)
JEL-codes: D40 E00 E41 (search for similar items in EconPapers)
Date: 2001
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