Coexistence of money and interest-bearing securities

Journal of Monetary Economics

Volumn 37, Issue 3, 1996, Pages 397-419

  Aiyagari, S Rao ^a   Wallace, Neil ^b   Wright, Randall ^c  

^a FEDERAL RESERVE BANK OF MINNEAPOLIS   (United States)

^b UNIVERSITY OF MIAMI   (United States)

^c UNIVERSITY OF PENNSYLVANIA   (United States)

Author keywords

Interest rates; Monetary policy; Money

Indexed keywords

EID: 0030160551     PISSN: 03043932     EISSN: None     Source Type: Journal    
DOI: 10.1016/0304-3932(96)01260-3     Document Type: Article

References (18)

1. Aiyagari, S.R. and N. Wallace, 1992, Fiat money in the Kiyotaki-Wright model, Economic Theory 2, 447-464.
2. Aiyagari, S.R. and N. Wallace, 1995, Government transaction policy, the medium of exchange, and welfare, Research Department working paper 516 (Federal Reserve Bank of Minneapolis, Minneapolis, MN).
3. Aiyagari, S.R., N. Wallace, and R. Wright, 1996, Coexistence of money and interest-bearing securities, Research Department working paper 550 (Federal Reserve Bank of Minneapolis, Minneapolis, MN).
4. Bryant, J.B. and N. Wallace, 1984, A price discrimination analysis of monetary policy, Review of Economic Studies 51, 279-288.
5. Diamond, P., 1990, Pairwise credit in search equilibrium, Quarterly Journal of Economics 105, 285-319.
6. Gherity, J.A., 1993, Interest-bearing currency: evidence from the Civil War experience, Journal of Money, Credit and Banking 25, 125-131.
7. Hendry, S., 1992, Credit in a search model with money as a medium of exchange (University of Western Ontario, London).
8. Kiyotaki, N. and R. Wright, 1989, On money as a medium of exchange, Journal of Political Economy 97, 927-954.
9. Makinen, G.E. and G.T. Woodward, 1986, Some anecdotal evidence relating to the legal restrictions theory of the demand for money, Journal of Political Economy 94, 260-265.
10. Renero, J., 1994. Gresham's Law type equilibria in the Kiyotaki-Wright model, Discussion paper 9411 (ITAM, Mexico City).
11. Renero, J., 1995, Welfare of alternative equilibrium paths in the Kiyotaki-Wright model, Discussion paper 9502 (ITAM, Mexico City).
12. Sargent, T.J. and N. Wallace, 1982, The real-bills doctrine versus the quantity theory: A reconsideration, Journal of Political Economy 90, 1212-1236.
13. Shi, S., 1995, Money and prices: A model of search and bargaining, Journal of Economic Theory 67, 467-498.
14. Shi, S., forthcoming, Credit and money in a search model with divisible commodities, Review of Economic Studies.
15. Trejos, A. and R. Wright, 1995, Search, bargaining, money and prices, Journal of Political Economy 103, 118-141.
16. Tobin, J., 1980, Discussion, in: J.H. Kareken and N. Wallace, eds., Models of monetary economies (Federal Reserve Bank of Minneapolis, Minneapolis, MN) 83-90.
17. Wallace, N., 1983, A legal restrictions theory of the demand for 'money' and the role of monetary policy, Federal Reserve Bank of Minneapolis Quarterly Review 7, Winter, 1-7.
18. Wallace, N., 1987, A suggestion for oversimplifying the theory of money, Economic Journal Supplement 98, 25-36. Journal of Monetary Economics 37 (1996) 573-605