Article ID Journal Published Year Pages File Type
965789 Journal of Macroeconomics 2011 12 Pages PDF
Abstract
► Multiple means of payment in segmented markets. ► Stored value weakens, but does not completely eliminate the liquidity effects. ► The Friedman rule can be optimal in the regime with floating stored value. ► Liquidity effects depend on the quantity of stored value and its velocity.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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The payment mechanisms and liquidity effects
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