Money and credit remix
| Autor(a) principal: | |
|---|---|
| Data de Publicação: | 2018 |
| Outros Autores: | |
| Tipo de documento: | Artigo de conferência |
| Idioma: | eng |
| Título da fonte: | Repositório Institucional do FGV (FGV Repositório Digital) |
| Texto Completo: | https://hdl.handle.net/10438/27661 |
Resumo: | Gu, Mattesini, and Wright (2016) show that credit is irrelevant in a monetary economy with permanent buyer and seller types. In particular, the size of debt limits do not matter for the determination of real allocations. We revisit their irrelevance result in a monetary economy with random types, as in Lagos and Wright (2005). The presence of random types creates a misallocation of liquidity that can be redressed with the use of monetary loans. In these circumstances, credit is not irrelevant and the size of debt limits matter for the determination of real allocations. We use the model to examine the implications of conventional and unconventional policy interventions. |
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Araújo, LuísFerraris, LeoDemais unidades::RPCAFGV2019-07-03T14:56:08Z2019-07-03T14:56:08Z2018-02-19https://hdl.handle.net/10438/27661Gu, Mattesini, and Wright (2016) show that credit is irrelevant in a monetary economy with permanent buyer and seller types. In particular, the size of debt limits do not matter for the determination of real allocations. We revisit their irrelevance result in a monetary economy with random types, as in Lagos and Wright (2005). The presence of random types creates a misallocation of liquidity that can be redressed with the use of monetary loans. In these circumstances, credit is not irrelevant and the size of debt limits matter for the determination of real allocations. We use the model to examine the implications of conventional and unconventional policy interventions.engMoneyCreditEssentialityMonetary policyEconomiaFinançasPolítica monetáriaCréditosComércioMoney and credit remixinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/conferenceObjectinfo:eu-repo/semantics/openAccessreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVRede de Pesquisa e Conhecimento AplicadoORIGINAL016_2018_Money and Credit Remix_LUIS ARAUJO.PDF016_2018_Money and Credit Remix_LUIS ARAUJO.PDFapplication/pdf191630https://repositorio.fgv.br/bitstreams/3e97ffc9-0c69-4ce2-82f6-4ccc71b830f2/downloadc1a10691ed804ae475ad58e8d809792cMD51LICENSElicense.txtlicense.txttext/plain; charset=utf-84707https://repositorio.fgv.br/bitstreams/d032e8a4-7f77-4d6f-b58c-3fb821aee8cb/downloaddfb340242cced38a6cca06c627998fa1MD52TEXT016_2018_Money and Credit Remix_LUIS ARAUJO.PDF.txt016_2018_Money and Credit Remix_LUIS 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Money and credit remix |
| title |
Money and credit remix |
| spellingShingle |
Money and credit remix Araújo, Luís Money Credit Essentiality Monetary policy Economia Finanças Política monetária Créditos Comércio |
| title_short |
Money and credit remix |
| title_full |
Money and credit remix |
| title_fullStr |
Money and credit remix |
| title_full_unstemmed |
Money and credit remix |
| title_sort |
Money and credit remix |
| author |
Araújo, Luís |
| author_facet |
Araújo, Luís Ferraris, Leo |
| author_role |
author |
| author2 |
Ferraris, Leo |
| author2_role |
author |
| dc.contributor.unidadefgv.por.fl_str_mv |
Demais unidades::RPCA |
| dc.contributor.affiliation.none.fl_str_mv |
FGV |
| dc.contributor.author.fl_str_mv |
Araújo, Luís Ferraris, Leo |
| dc.subject.eng.fl_str_mv |
Money Credit Essentiality Monetary policy |
| topic |
Money Credit Essentiality Monetary policy Economia Finanças Política monetária Créditos Comércio |
| dc.subject.area.por.fl_str_mv |
Economia Finanças |
| dc.subject.bibliodata.por.fl_str_mv |
Política monetária Créditos Comércio |
| description |
Gu, Mattesini, and Wright (2016) show that credit is irrelevant in a monetary economy with permanent buyer and seller types. In particular, the size of debt limits do not matter for the determination of real allocations. We revisit their irrelevance result in a monetary economy with random types, as in Lagos and Wright (2005). The presence of random types creates a misallocation of liquidity that can be redressed with the use of monetary loans. In these circumstances, credit is not irrelevant and the size of debt limits matter for the determination of real allocations. We use the model to examine the implications of conventional and unconventional policy interventions. |
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2018 |
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2018-02-19 |
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2019-07-03T14:56:08Z |
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2019-07-03T14:56:08Z |
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