Detail Currency and Credit Are Equivalent Mechanisms   Oleh:  Taub, Bart Jenis: Article from Bulletin/Magazine Dalam koleksi: INTERNATIONAL ECONOMIC REVIEW vol. 35 no. 4 (1994), page 921-956. Topik: credit; currency; credit; mechanisms Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: II49.4 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel I study a pure exchange economy with many agents whose marginal utility of consumption is stochastically heterogeneous and independent of wealth, with realized marginal utility of wealth private information. I show that currency and credit are equivalent to a contract that is efficient when the privacy of information is viewed as a constraint, and that the cash in advance constraint is an expression of an incentive constraint. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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