onetary Economics at 30: A Reexamination of the Relevance of Money in Cashless Limiting Monetary Economies
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The well-known cashless-limiting result in Woodford (1998) has become the theoretical foundation for a large body of work that treats the costs and benefits of holding money as irrelevant for monetary transmission. I reexamine this result and find that it relies on a peculiar credit-market structure
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美国国家经济研究局创建时间：
2025-08-01
