EconPapers    
Economics at your fingertips  
 

Self-Insurance and the Risk-Sharing Role of Money

Russell Wong
Additional contact information
Russell Wong: Federal Reserve Bank of Richmond, https://www.richmondfed.org/research/economists/bios/wong_bio

Economic Quarterly, 2018, issue 1Q, 35-52

Abstract: Overcoming the lack of coincidence of wants is a well-acknowledged role of money. In this review, I illustrate that the use of money also promotes risk-sharing in the society: when individuals hold money, it helps other individuals mitigate their own liquidity risks.

Keywords: self-insurance; money; risk-sharing; toy model (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://www.richmondfed.org/-/media/richmondfedorg ... rly/2018/q1/wong.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedreq:00057

Ordering information: This journal article can be ordered from
http://www.richmondfed.org/publications/

Access Statistics for this article

More articles in Economic Quarterly from Federal Reserve Bank of Richmond Contact information at EDIRC.
Bibliographic data for series maintained by Christian Pascasio ().

 
Page updated 2019-07-18
Handle: RePEc:fip:fedreq:00057