The United States has introduced two one-dollar coins in the past 25 years, both of which have not circulated widely. Many other countries have replaced lower-denomination notes with coins and have achieved wide circulation and cost savings. Lessons from those countries suggest that achieving...

Why is money divisible? To explore this question we introduce a mismatch problem into search-theoretic models of monetary exchange. We use alternative assumptions about the divisibility of goods and money and the ability of agents to use lotteries on money. Our framework potentially generates...

This paper analyzes the consequences of a working time reduction within a matching model with worker moral hazard. In the "laissez faire", workers and employers bargain over wages and working hours. When the no-shirking condition (NSC) is binding, the number of working hours is lower than the...

In reaction to the monetary turmoil created by the financial crisis of September 2008, both legislative and constitutional reforms have been proposed in different Countries to introduce Commodity Money longside existing National Fiat Currency. A thorough evaluation of the Economic consequences...

In reaction to the monetary turmoil created by the financial crisis of September 2008, both legislative and constitutional reforms have been proposed in different Countries to introduce Commodity Money alongside existing National Fiat Currency. A thorough evaluation of the Economic consequences...