Money and Nominal Bonds

Pietro Senesi and Alessandro Marchesiani ()
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Pietro Senesi: University of Naples L'Orientale

No 835, 2007 Meeting Papers from Society for Economic Dynamics

Abstract: This paper studies an economy with trading frictions, ex post heterogeneity and outside bonds in a model a' la Lagos and Wright [14]. It is shown that nominal bonds help to reduce the inefficiency due to the fact that, depending on the population distribution between buyers and sellers, a non-zero measure set of agents hold idle money.

Date: 2007
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Related works:
Journal Article: MONEY AND NOMINAL BONDS (2009)
Working Paper: Money and Nominal Bonds (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed007:835

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