Money and asset prices with uninsurable risks

Money and asset prices with uninsurable risks

We develop a model where the coexistence of money and a higher yielding asset is endogenously obtained when no restriction is placed on the use of either object as a medium of exchange. Due to the presence of uninsurable risks, agents have, in equilibrium, di⁄erent relative valuations of the asset t...

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Bibliographic Details
Main Authors: JACQUET, Nicolas L., TAN, Serene
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2012
Subjects:
exchange economy
monetary policy
liquidity
inflation
markets
model
Finance
Public Economics
Online Access:https://ink.library.smu.edu.sg/soe_research/2001
https://ink.library.smu.edu.sg/context/soe_research/article/3000/viewcontent/paper_money_asset_prices_pdf.pdf
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Institution: Singapore Management University
Language: English

Internet

https://ink.library.smu.edu.sg/soe_research/2001
https://ink.library.smu.edu.sg/context/soe_research/article/3000/viewcontent/paper_money_asset_prices_pdf.pdf

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