We propose a model in which money performs an essential role in the process of exchange, despite the presence of a multilateral clearing house that collects resources from and distributes them to anonymous agents. Money improves the functioning of the clearing house, simultaneously keeping the incentives to contribute and guaranteeing the fine-tuning of allocations.

Amendola, N., & Ferraris, L. (2020). Money and Limited Enforcement in Multilateral Exchange. MACROECONOMIC DYNAMICS, 24(5 (July 2020)), 1222-1239 [10.1017/S1365100518000822].

Money and Limited Enforcement in Multilateral Exchange

Ferraris, L
2020

Abstract

We propose a model in which money performs an essential role in the process of exchange, despite the presence of a multilateral clearing house that collects resources from and distributes them to anonymous agents. Money improves the functioning of the clearing house, simultaneously keeping the incentives to contribute and guaranteeing the fine-tuning of allocations.
No
Articolo in rivista - Articolo scientifico
Scientifica
Money; Essentiality; Multilateral Exchange;
English
1222
1239
18
Amendola, N., & Ferraris, L. (2020). Money and Limited Enforcement in Multilateral Exchange. MACROECONOMIC DYNAMICS, 24(5 (July 2020)), 1222-1239 [10.1017/S1365100518000822].
Amendola, N; Ferraris, L
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/10281/311156
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