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dc.contributor.authorSissoko, Carolynen
dc.date.accessioned2009-01-28T15:06:03Z-
dc.date.available2009-01-28T15:06:03Z-
dc.date.issued2007-
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|p1-29en
dc.identifier.pidoi:10.5018/economics-ejournal.ja.2007-5en
dc.identifier.urihttp://hdl.handle.net/10419/18003-
dc.description.abstractWe 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.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.subject.jelE5en
dc.subject.jelG2en
dc.subject.ddc330en
dc.subject.keywordFiat Moneyen
dc.subject.keywordCash-in-advanceen
dc.subject.keywordFinancial Intermediationen
dc.subject.stwFinanzintermediären
dc.subject.stwPapierwährungen
dc.subject.stwCash-in-Advance-Modellen
dc.subject.stwAllgemeines Gleichgewichten
dc.subject.stwGeldtheorieen
dc.titleAn Idealized View of Financial Intermediation-
dc.typeArticleen
dc.identifier.ppn534305482en
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.enen
dc.identifier.repecRePEc:zbw:ifweej:5740en
econstor.citation.journaltitleEconomics: The Open-Access, Open-Assessment E-Journalen
econstor.citation.issn1864-6042en
econstor.citation.volume1en
econstor.citation.issue2007-5en
econstor.citation.publisherKiel Institute for the World Economy (IfW)en
econstor.citation.publisherplaceKielen
econstor.citation.year2007en
econstor.citation.startpage1en
econstor.citation.endpage29en

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