Diamond–Dybvig and beyond: On the instability of banking
Are financial intermediaries–in particular, banks–inherently unstable or fragile, and if so,
why? We address this theoretically by analyzing whether model economies with financial …
why? We address this theoretically by analyzing whether model economies with financial …
The Friedman rule: experimental evidence
J Duffy, D Puzzello - International Economic Review, 2022 - Wiley Online Library
We evaluate the Friedman rule for optimal monetary policy in a laboratory economy based
on Lagos–Wright (Journal of Economic Theory 145 (2010), 1508–24). We explore two …
on Lagos–Wright (Journal of Economic Theory 145 (2010), 1508–24). We explore two …
On the emergence of international currencies: An experimental approach
We integrate theory and experimental evidence to study the emergence of different
international monetary arrangements based on the circulation of two intrinsically worthless …
international monetary arrangements based on the circulation of two intrinsically worthless …
Money, Inflation Tax, and Trading Behavior: Theory and Laboratory Experiments
Z Babutsidze, F Bonetto, N Hanaki… - Journal of Economic …, 2024 - Elsevier
Abstract In a Kiyotaki-Wright model, we generate equilibria characterized by the partial or full
acceptability of fiat money and by fundamental or speculative trading strategies. In a …
acceptability of fiat money and by fundamental or speculative trading strategies. In a …
The essentiality of money in a trading post economy with random matching
A Marchesiani - Oxford Economic Papers, 2024 - academic.oup.com
This article studies how the structure of centralized markets can affect efficient allocation in
anonymous decentralized trades. In line with previous studies, we show that efficiency in …
anonymous decentralized trades. In line with previous studies, we show that efficiency in …