In this thesis, we study both firms and markets, but in an environment in which much greater attention is placed on the workings of the market than has been the case heretofore. Specifically, we analyze the make-or-buy decision within a dynamic environment, in which firms search for trading...

In this study, we describe the fintech and cryptoassets-related trends in the Republic of Korea and review the measures and assessments of the Government of the Republic of Korea and the Bank of Korea. We also provide discussion on central bank digital currency. Fintech in the Republic of Korea...

In this study, we describe the fintech and cryptoassets-related trends in the Republic of Korea and review the measures and assessments of the Government of the Republic of Korea and the Bank of Korea. We also provide discussion on central bank digital currency. Fintech in the Republic of Korea...

This paper shows that discrete and vastly different loan rates offered by different types of financial firms constitute, in fact, an elaborate mechanism that makes borrowers tell the truth regarding their ability to pay back loan principal and interest. Suppose that once a borrower fails to pay...

We present a simple, finite-state search model to understand how the cross-sectional distribution of money affects its value. We first document a network effect: the value of a given unit of money is higher when its distribution is even, rather than skewed. We also find some distributions to be...