Overview
InĀ Money, Payments, and Liquidity,Ā Guillaume Rocheteau and Ed Nosal provide a comprehensive investigation into the economics of money, liquidity, and payments by explicitly modeling the mechanics of trade and its various frictions (including search, private information, and limited commitment). Adopting the last generation of the New Monetarist framework developed by Ricardo Lagos and Randall Wright, among others, Nosal and Rocheteau provide a dynamic general equilibrium framework to examine the frictions in the economy that make money and liquid assets play a useful role in trade. They discuss such topics as cashless economies; the properties of an asset that make it suitable to be used as a medium of exchange; the optimal monetary policy and the cost of inflation; the coexistence of money and credit; and the relationships among liquidity, asset prices, monetary policy; and the different measures of liquidity in over-the-counter markets.
The second edition has been revised to reflect recent progress in the New Monetarist approach to payments and liquidity. Rocheteau and Nosal have added three new chapters: on unemployment and payments, on asset price dynamics and bubbles, and on crashes and recoveries in over-the-counter markets. The chapter on the role of money has been entirely rewritten, adopting a mechanism design approach. Other chapters have been revised and updated, with new material on credit economies under limited commitment, open-market operations and liquidity traps, and the limited pledgeability of assets under informational frictions.
This book title, Money, Payments, and Liquidity, second edition, ISBN: 9780262533270, by Guillaume Rocheteau, Ed Nosal, published by MIT Press (May 19, 2017) is available in paperback. Our minimum order quantity is 25 copies. All standard bulk book orders ship FREE in the continental USA and delivered in 4-10 business days.
Unlike Amazon and other retailers who may also offer Money, Payments, and Liquidity, second edition books on their website, we specialize in large quantities and provide personal service, from trusted, experienced, friendly people in Portland, Oregon. We offer a Price Match Guarantee, and QuickQuote form, to make purchasing quick and easy.
Prefer to work with a human being when you order Money, Payments, and Liquidity, second edition books in bulk? Our Book Specialists are standing by Monday-Friday 8-5 PST, ready to help!