Titlebook: Recent Developments on Money and Finance; Exploring Links betw Charalambos D. Aliprantis,Nicholas C. Yannelis,Gab Book 2006 Springer-Verlag

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Stephen D. Williamsonscale. It has a definite birth and it is inevitably senescing toward heat death. The idea that we live in an “evo devo universe,” one that has self-organized over past replications both to generate multilocal evolutionary variation (experimental diversity) and to convergently develop and pass to fut

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Deposit Insurance and Bank Regulation in a Monetary Economy: A General Equilibrium Exposition,e savings, deposits, bank reserves, and the inflation tax base. Increasing the inflation tax rate obviously raises inflation, but so does an erosion of the inflation tax base. We also find that low deposit insurance premia or low reserve requirements may not be associated with a high rate of bank failure.

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Aggregate Risk Sharing and Equivalent Financial Mechanisms in an Endowment Economy of Incomplete Paing. I examine the risk-sharing arrangements associated with two different concepts of optimality, including how these arrangements are financed. The results are related to, and in some instances an extension of, the equivalence results obtained by Chamley and Polemarcharkis (1984), Weiss (1977), and Wallace (1981).

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Inflation, Growth and Exchange Rate Regimes in Small Open Economies,eshold level will reduce domestic output..Endogenously arising volatility may arise independently of the exchange rate regime. Private information — with high rates of domestic inflation — increases the scope for indeterminacy and economic fluctuations.

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Money, price dispersion and welfare,e. In the equilibrium with the highest welfare level, money growth reduces welfare and increases the range of prices, while having ambiguous effects on search intensity. However, there can be a welfare-inferior equilibrium in which an increase in money growth increases search intensity, increases welfare, and . the range of prices.

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Limited participation, private money, and credit in a spatial model of money, fiat currency is no longer used in transactions involving goods, but currency and central bank reserves play an important part in the clearing and settlement of private money returned for redemption.