| dc.creator |
Sissoko, Carolyn |
|
| dc.date |
2007 |
|
| dc.date.accessioned |
2013-10-16T06:57:53Z |
|
| dc.date.available |
2013-10-16T06:57:53Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
Economics: The Open-Access, Open-Assessment E-Journal 1 2007-5 1-29 doi:10.5018/economics-ejournal.ja.2007-5 |
|
| dc.identifier |
doi:10.5018/economics-ejournal.ja.2007-5 |
|
| dc.identifier |
http://hdl.handle.net/10419/18003 |
|
| dc.identifier |
ppn:534305482 |
|
| dc.identifier |
http://www.economics-ejournal.org/economics/journalarticles/2007-5 |
|
| dc.identifier |
RePEc:zbw:ifweej:5740 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/18003 |
|
| dc.description |
We 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. |
|
| dc.language |
eng |
|
| dc.publisher |
Kiel Institute for the World Economy (IfW) Kiel |
|
| dc.relation |
economics - The Open-Access, Open-Assessment E-Journal 2007-5 |
|
| dc.rights |
http://creativecommons.org/licenses/by-nc/2.0/de/deed.en |
|
| dc.subject |
E5 |
|
| dc.subject |
G2 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
Fiat Money |
|
| dc.subject |
Cash-in-advance |
|
| dc.subject |
Financial Intermediation |
|
| dc.subject |
Finanzintermediär |
|
| dc.subject |
Papierwährung |
|
| dc.subject |
Cash-in-Advance-Modell |
|
| dc.subject |
Allgemeines Gleichgewicht |
|
| dc.subject |
Geldtheorie |
|
| dc.title |
An Idealized View of Financial Intermediation |
|
| dc.type |
doc-type:article |
|