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HWWA Discussion Paper, Hamburgisches Welt-Wirtschafts-Archiv >
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http://hdl.handle.net/10419/19227
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| Title: | | On the micro-foundations of money : the Capitol Hill Baby-Sitting Co-op  |
| Authors: | | Hens, Thorsten Schenk-Hoppe, Klaus Reiner Vogt, Bodo |
| Issue Date: | | 2003 |
| Series/Report no.: | | HWWA Discussion Paper 255 |
| Abstract: | | This paper contributes to the micro-foundation of money in centralized markets with idiosyncratic uncertainty. It shows existence of stationary monetary equilibria and ensures that there is an optimum quantity of money. The rational solution of our model is compared with actual behavior in a laboratory experiment. The experiment gives support to the theoretical approach. |
| Subjects: | | micro foundations of money optimal quantity of money |
| JEL: | | E42 C73 E41 E40 C92 C91 |
| Document Type: | | Working Paper |
| Appears in Collections: | | HWWA Discussion Paper, Hamburgisches Welt-Wirtschafts-Archiv
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| 255.pdf | | 642.01 kB | Adobe PDF |
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