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Rocheteau, Guillaume; Waller, Christopher - Federal Reserve Bank of Cleveland - 2005

model with divisible money, we show how this choice matters for important results such as the ability of the optimal …

Persistent link: https://www.econbiz.de/10005428388

A tribute to Earl A. Thompson and, in his own words, a summary of his general economic and social theory

Allison, Don; Borcherding, Thomas - In: Public Choice 156 (2013) 1, pp. 7-29

Brilliant but little known, in part because his style was dense and crucial papers unpublished, Earl Thompson reformulated standard theory to achieve policy relevance, focusing on significant rent-seeking inefficiencies stemming from private information and transaction costs. Drawing on history,...

Persistent link: https://www.econbiz.de/10010864279

A Game Theoretic Approach to the Theory of Money and Financial Institutions

Shubik, Martin - Cowles Foundation for Research in Economics, Yale University - 1986

money and financial institutions. The phrase "money and financial institutions" is used to stress that a theory of money … money measures provide a crude but serviceable basis for the accounting system which in turn, along with the codification of … provided a means for control. Money and financial institutions provide the command and control system of a modern society. The …

Persistent link: https://www.econbiz.de/10004990669