Taub, B. (1994) Currency and credit are equivalent mechanisms. International Economic Review, 35(4), pp. 921-956.
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Abstract
Studies a pure exchange economy with agents' marginal utility of consumption stochastically heterogenous and independent of wealth. Currency and credit equivalent to a contract that is efficient when the privacy of information is viewed as a constraint; Cash in advance constraint an expression of an incentive constraint.
Item Type: | Articles |
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Status: | Published |
Refereed: | Yes |
Glasgow Author(s) Enlighten ID: | Taub, Professor Bart |
Authors: | Taub, B. |
College/School: | College of Social Sciences > Adam Smith Business School > Economics |
Journal Name: | International Economic Review |
Publisher: | John Wiley & Sons |
ISSN: | 0020-6598 |
ISSN (Online): | 1468-2354 |
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