A Tractable Model of Monetary Exchange with Ex-post Heterogeneity
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We construct a continuous-time, pure currency economy with the following three key features. First, our modelled economy incorporates idiosyncratic uncertaintyhouseholds receive infrequent and random opportunities of lumpy consumptionand displays an endogenous, non-degenerate distribution of money
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美国国家经济研究局创建时间：
2015-05-01
