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Money and credit : theory and applications /

We develop a theory of money and credit as competing payment instruments, then put it to work in applications. Buyers can use cash or credit, with the former (latter) subject to the inflation tax (transaction costs). Frictions that make the choice of payment method interesting also imply equilibrium...

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Détails bibliographiques
Cote:Libro Electrónico
Auteurs principaux: Wang, Liang (Auteur), Wright, Randall (Auteur), Liu, Lucy Qian (Auteur)
Format: Électronique eBook
Langue:Inglés
Publié: [Washington, District of Columbia] : International Monetary Fund, 2017.
Collection:IMF working paper ; WP/17/14.
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