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Home > Working Papers > View by Author > David Andolfatto

David Andolfatto Working Papers

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#2009-046A "Money and Capital as Competing Media of Exchange in a News Economy"
by David Andolfatto, and Fernando M. Martin
September 2009

Conventional theory suggests that fiat money will have value in capital-poor economies. We demonstrate that fiat money may also have value in capital-rich economies, if the price of capital is excessively volatile. More...

#2009-044A "Essential Interest-Bearing Money"
by David Andolfatto
September 2009

I examine optimal monetary policy in a Lagos and Wright [A unified framework for monetary theory and policy analysis, J. Polit. Econ. 113 (2005) 463—484] model where trade is centralized and all exchange is voluntary. More...

FORTHCOMING: Journal of Economic Theory

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