CCER讨论稿:Money and Credit Theory and Applications

LiangWangUniversityofHawaii-ManoaRandallWrightFRBChicago,FRBMinneapolisandUniversityofWisconsin-MadisonLucyQianLiuInternationalMonetaryFundAbstractWedevelopatheoryofmoneyandcreditascompetingpaymentinstruments,(latter)issubjecttotheinflationtax(transactioncosts).Frictionsthatmakethechoi,andshowhowtosimultaneouslyaccountfortheprice-changefacts,cash-creditsharesinmicrodata,,pricedispersionandmarkupsarediscussed,:E31,E42,E51,E52Keywords:Money,Credit,Inflation,PriceDispersion,StickyPricesDownload:。

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