The Limits of onetary Economics: On Money as a Latent Medium of Exchange
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https://www.nber.org/papers/w26756
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资源简介：
We formulate a generalization of the traditional medium-of-exchange function of money in contexts where there is imperfect competition in the intermediation of credit, settlement, or payment services used to conduct transactions. We nd that the option to settle transactions with money strengthens
提供机构：
美国国家经济研究局
创建时间：
2020-02-01
