This paper sets out a tractable model which illuminates problems relating to individual bank
behaviour, to possible contagious inter-relationships between banks, and to the appropriate …

This paper first extends the canonical General Equilibrium with Incomplete Markets (GEI)
model with money and default to allow for competitive banking and financial instability …

The purpose of our work is to explore contagious financial crises. To this end, we use
simplified, thus numerically solvable, versions of our general model [CAE Goodhart, P …

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Money and payments are familiar to everybody. Economists however are often at a loss in
assessing the extent to which money matters. As a matter of fact, money is at the origin of the …

In this paper, we investigate the relationship between East Asian countries' high propensity
to save and global imbalances in a two-country OLG model with production. The saving …

We add inside and outside money to the standard GEI model. If there enough gains to trade
via money, then monetary equilibrium (ME) exists and money has positive value, even when …

We study whether monetary economies display nominal indeterminacy: equivalently,
whether monetary policy determines the path of prices under uncertainty. In a simple …

We propose a simple, yet sufficiently encompassing, classification scheme of monetary
economics. It comprises three fundamental fields and six recent areas that expand within …

Ödemeler bilançosu dengesizlikleri bir çok ülkenin giderek artan bir sorunu haline
gelmektedir. Özellikle döviz rezervleri yetersiz olan ülkelerin üstesinden gelmek zorunda …