Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/19227
Authors: 
Hens, Thorsten
Schenk-Hoppe, Klaus Reiner
Vogt, Bodo
Year of Publication: 
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

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