Currency and credit are equivalent mechanisms

Taub, B. (1994) Currency and credit are equivalent mechanisms. International Economic Review, 35(4), pp. 921-956.

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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
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 (Online):1468-2354

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