Money, bargaining, and risk sharing
We investigate the dual role of money as a self-insurance device and a means of payment when perfect risk sharing is not possible, and when the two roles of money are disentangled. We use a variant of Lagos–Wright (2005) where agents face a risk in the centralized market (CM): in the decentralized m...
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| Main Authors: | , |
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| 格式: | text |
| 語言: | English |
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Institutional Knowledge at Singapore Management University
2011
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| 在線閱讀: | https://ink.library.smu.edu.sg/soe_research/2170 https://ink.library.smu.edu.sg/context/soe_research/article/3170/viewcontent/money_bargaining.pdf |
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