Money and credit : theory and applications /
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| Author / Creator: | Wang, Liang, author. |
|---|---|
| Imprint: | [Washington, District of Columbia] : International Monetary Fund, 2017. ©2017 |
| Description: | 1 online resource (55 pages) : illustrations, tables. |
| Language: | English |
| Series: | IMF working paper ; WP/17/14 IMF working paper ; WP/17/14. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/11705102 |
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| 100 | 1 | |a Wang, Liang, |e author. | |
| 245 | 1 | 0 | |a Money and credit : |b theory and applications / |c by Liang Wang, Randall Wright, and Lucy Qian Liu. |
| 264 | 1 | |a [Washington, District of Columbia] : |b International Monetary Fund, |c 2017. | |
| 264 | 4 | |c ©2017 | |
| 300 | |a 1 online resource (55 pages) : |b illustrations, tables. | ||
| 336 | |a text |b txt |2 rdacontent | ||
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| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/17/14 | |
| 520 | 3 | |a 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 price dispersion. We deliver closed-form solutions for money demand. We then show the model can simultaneously account for the price-change facts, cash-credit shares in micro payment data, and money-interest correlations in macro data. We analyze the effects of inflation on welfare, price dispersion and markups. We also describe nonstationary equilibria as self-fulfilling prophecies, which is standard, except here it entails dynamics in the price distribution. | |
| 650 | 0 | |a Econometric models. |0 http://id.loc.gov/authorities/subjects/sh85040762 | |
| 650 | 0 | |a Economic forecasting. |0 http://id.loc.gov/authorities/subjects/sh85040814 | |
| 650 | 6 | |a Modèles économétriques. | |
| 650 | 6 | |a Prévision économique. | |
| 650 | 7 | |a BUSINESS & ECONOMICS / Economics / General |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS / Reference |2 bisacsh | |
| 650 | 7 | |a Econometric models. |2 fast |0 (OCoLC)fst00901567 | |
| 650 | 7 | |a Economic forecasting. |2 fast |0 (OCoLC)fst00901942 | |
| 655 | 4 | |a Electronic books. | |
| 700 | 1 | |a Wright, Randall, |e author. | |
| 700 | 1 | |a Liu, Lucy Qian, |e author. |0 http://id.loc.gov/authorities/names/no2015051563 | |
| 776 | 0 | 8 | |i Print version: |a Wang, Liang |t Money and Credit: Theory and Applications |d Washington, D.C. : International Monetary Fund,2017 |z 9781475572339 |
| 830 | 0 | |a IMF working paper ; |v WP/17/14. |0 http://id.loc.gov/authorities/names/no89010263 | |
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