Excerpt from Money, Output, and Prices Evidence From a New Monetary Aggregate Some assets can readily be used for transactions. Individuals pay for the liquidity that these assets offer by foregoing the higher expected returns that are available on other, less liquid assets. Holding one dollar in currency costs more than holding one dollar in a now account, and it presumably generates greater liquidity services. We formalize this idea by assuming that individuals derive utility from holding certain assets. Our results ...
Read More
Excerpt from Money, Output, and Prices Evidence From a New Monetary Aggregate Some assets can readily be used for transactions. Individuals pay for the liquidity that these assets offer by foregoing the higher expected returns that are available on other, less liquid assets. Holding one dollar in currency costs more than holding one dollar in a now account, and it presumably generates greater liquidity services. We formalize this idea by assuming that individuals derive utility from holding certain assets. Our results could also be obtained by assuming that individuals and firms incur transactions costs which depend negatively on asset-holdings and positively on the volume of transactions. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at ... This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Read Less
Add this copy of Money, Output, and Prices Evidence From a New Monetary to cart. $17.16, new condition, Sold by Paperbackshop rated 4.0 out of 5 stars, ships from Bensenville, IL, UNITED STATES, published 2018 by Forgotten Books.
Add this copy of Money, Output, and Prices Evidence From a New Monetary to cart. $27.02, new condition, Sold by Paperbackshop rated 4.0 out of 5 stars, ships from Bensenville, IL, UNITED STATES, published 2018 by Forgotten Books.
Add this copy of Money, Output, and Prices Evidence From a New Monetary to cart. $53.31, good condition, Sold by Bonita rated 4.0 out of 5 stars, ships from Newport Coast, CA, UNITED STATES, published 2018 by Forgotten Books.
