Ebook: Recent Developments on Money and Finance: Exploring Links between Market Frictions, Financial Systems and Monetary Allocations

This book assembles current theoretical contributions to monetary theory, banking and finance. The papers published in this collection span a wide variety of themes, from monetary policy to the optimal design of financial systems, from the study of the causes of financial crises to payment systems design. Thereby, the book serves as a useful reference to all researchers interested in the study of financial systems and monetary economics. The papers contribute to two strands of literature: A first group of papers focuses on topics related to the optimality of financial mechanisms, banking regulation, financial crises, financial fragility, and payment systems. A second group of papers is broadly concerned with the efficiency of the decentralized monetary solution in economies characterized by equilibrium heterogeneity.

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This book assembles current theoretical contributions to monetary theory, banking and finance. The papers published in this collection span a wide variety of themes, from monetary policy to the optimal design of financial systems, from the study of the causes of financial crises to payment systems design. Thereby, the book serves as a useful reference to all researchers interested in the study of financial systems and monetary economics. The papers contribute to two strands of literature: A first group of papers focuses on topics related to the optimality of financial mechanisms, banking regulation, financial crises, financial fragility, and payment systems. A second group of papers is broadly concerned with the efficiency of the decentralized monetary solution in economies characterized by equilibrium heterogeneity.
Content:
Front Matter....Pages I-VI
Recent developments on money and finance: an introduction....Pages 1-8
Deposit Insurance and Bank Regulation in a Monetary Economy: A General Equilibrium Exposition....Pages 11-38
A monetary mechanism for sharing capital: Diamond and Dybvig meet Kiyotaki and Wright....Pages 39-58
Domestic financial market frictions, unrestricted international capital flows, and crises in small open economies....Pages 61-92
Inflation, Growth and Exchange Rate Regimes in Small Open Economies....Pages 93-123
Aggregate Risk Sharing and Equivalent Financial Mechanisms in an Endowment Economy of Incomplete Participation....Pages 127-147
Asset pricing implications of efficient risk sharing in an endowment economy....Pages 149-159
Distributional aspects of the divisibility of money. An example....Pages 163-171
The distribution of money and prices in an equilibrium with lotteries....Pages 173-193
Money, price dispersion and welfare....Pages 197-222
A simple search model of money with heterogeneous agents and partial acceptability....Pages 223-232
Decentralized credit and monetary exchange without public record keeping....Pages 235-253
Limited participation, private money, and credit in a spatial model of money....Pages 255-273

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This book assembles current theoretical contributions to monetary theory, banking and finance. The papers published in this collection span a wide variety of themes, from monetary policy to the optimal design of financial systems, from the study of the causes of financial crises to payment systems design. Thereby, the book serves as a useful reference to all researchers interested in the study of financial systems and monetary economics. The papers contribute to two strands of literature: A first group of papers focuses on topics related to the optimality of financial mechanisms, banking regulation, financial crises, financial fragility, and payment systems. A second group of papers is broadly concerned with the efficiency of the decentralized monetary solution in economies characterized by equilibrium heterogeneity.
Content:
Front Matter....Pages I-VI
Recent developments on money and finance: an introduction....Pages 1-8
Deposit Insurance and Bank Regulation in a Monetary Economy: A General Equilibrium Exposition....Pages 11-38
A monetary mechanism for sharing capital: Diamond and Dybvig meet Kiyotaki and Wright....Pages 39-58
Domestic financial market frictions, unrestricted international capital flows, and crises in small open economies....Pages 61-92
Inflation, Growth and Exchange Rate Regimes in Small Open Economies....Pages 93-123
Aggregate Risk Sharing and Equivalent Financial Mechanisms in an Endowment Economy of Incomplete Participation....Pages 127-147
Asset pricing implications of efficient risk sharing in an endowment economy....Pages 149-159
Distributional aspects of the divisibility of money. An example....Pages 163-171
The distribution of money and prices in an equilibrium with lotteries....Pages 173-193
Money, price dispersion and welfare....Pages 197-222
A simple search model of money with heterogeneous agents and partial acceptability....Pages 223-232
Decentralized credit and monetary exchange without public record keeping....Pages 235-253
Limited participation, private money, and credit in a spatial model of money....Pages 255-273
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