Waller, Christopher J. - Federal Reserve Bank of St. Louis - 2009
Cooley and Hansen (1989), Gomme (1993) and Ireland (1994). In all of these models, money
is �forced�into the neoclassical … growth model, via the assumption of cash-in-advance. Thus,
while the real side of these models has well …-
foundations of money. Starting with the seminal work of Kiyotaki and Wright (1989, 1993),
search theoretic models of money …