truth. When private banks teeter, and depositors take their money and run, should central banks step in to save them …

truth. When private banks teeter, and depositors take their money and run, should central banks step in to save them …

truth. When private banks teeter, and depositors take their money and run, should central banks step in to save them …

information structures; economies where monetary exchange coexists with credit transactions; the coexistence of money and other …In Money, Payments, and Liquidity, Ed Nosal and Guillaume Rocheteau provide a comprehensive investigation into the … economics of money and payments by explicitly modeling trading frictions between agents. Adopting the search-theoretic approach …