کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
985715 | 1480837 | 2008 | 29 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Payment networks in a search model of money
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
In a simple search model of money, we study a special kind of memory which gives rise to an arrangement resembling a payment network. Specifically, we assume that agents can pay a cost to have access to a central data base that keeps track of payments made and received. Incentives must be provided to agents to access the central data base and to produce when they have access to this arrangement. We study policies that can relax these incentive constraints. In particular, we show that a ‘no-surcharge’ rule has good incentive properties. Finally, we compare our model with the model of Cavalcanti and Wallace.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Review of Economic Dynamics - Volume 11, Issue 1, January 2008, Pages 104–132
Journal: Review of Economic Dynamics - Volume 11, Issue 1, January 2008, Pages 104–132
نویسندگان
Antoine Martin, Michael J. Orlando, David Skeie,