Florig, Michael; Cayupi, Jorge Rivera - Departamento de Economía, Facultad de Economía y Negocios - 2002
We study economies where all commodities are indivisible at the individual level, but perfectly divisible at the aggregate level. Paper (fiat) money which does not influence agents preferences may be used to facilitate exchange. In a parallel paper (Florig and Rivera (2002), we introduced a...