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https://hdl.handle.net/10419/18003
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Sissoko, Carolyn | en |
dc.date.accessioned | 2009-01-28T15:06:03Z | - |
dc.date.available | 2009-01-28T15:06:03Z | - |
dc.date.issued | 2007 | - |
dc.identifier.citation | |aEconomics: The Open-Access, Open-Assessment E-Journal|c1864-6042|v1|h2007-5|nKiel Institute for the World Economy (IfW)|lKiel|y2007|p1-29 | en |
dc.identifier.pi | doi:10.5018/economics-ejournal.ja.2007-5 | en |
dc.identifier.uri | http://hdl.handle.net/10419/18003 | - |
dc.description.abstract | We consider an environment where the general equilibrium assumption that every agent buys and sells simultaneously is relaxed. We show that fiat money can implement a Pareto optimal allocation only if taxes are type-specific. We then consider intermediated money by assuming that financial intermediaries whose liabilities circulate as money have an important identifying characteristic: they are widely viewed as default-free. The paper demonstrates that default-free intermediaries who issue deposit accounts with credit lines to consumers can resolve the monetary problem and make it possible for the economy to reach a Pareto optimum. | en |
dc.language.iso | eng | en |
dc.publisher | |aKiel Institute for the World Economy (IfW) |cKiel | en |
dc.subject.jel | E5 | en |
dc.subject.jel | G2 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Fiat Money | en |
dc.subject.keyword | Cash-in-advance | en |
dc.subject.keyword | Financial Intermediation | en |
dc.subject.stw | Finanzintermediär | en |
dc.subject.stw | Papierwährung | en |
dc.subject.stw | Cash-in-Advance-Modell | en |
dc.subject.stw | Allgemeines Gleichgewicht | en |
dc.subject.stw | Geldtheorie | en |
dc.title | An Idealized View of Financial Intermediation | - |
dc.type | Article | en |
dc.identifier.ppn | 534305482 | en |
dc.rights.license | http://creativecommons.org/licenses/by-nc/2.0/de/deed.en | en |
dc.identifier.repec | RePEc:zbw:ifweej:5740 | en |
econstor.citation.journaltitle | Economics: The Open-Access, Open-Assessment E-Journal | en |
econstor.citation.issn | 1864-6042 | en |
econstor.citation.volume | 1 | en |
econstor.citation.issue | 2007-5 | en |
econstor.citation.publisher | Kiel Institute for the World Economy (IfW) | en |
econstor.citation.publisherplace | Kiel | en |
econstor.citation.year | 2007 | en |
econstor.citation.startpage | 1 | en |
econstor.citation.endpage | 29 | en |
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