Money, banks and endogenous volatility

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Pere Gomis-Porqueras;
  • Subject: Spatial separation, Endogenous volatility, Incomplete insurance.
    • jel: jel:E44 | jel:E52

In this paper I consider a monetary growth model in which banks provide liquidity, and the government fixes a constant rate of money creation. There are two underlying assets in the economy, money and capital. Money is dominated in rate of return. In contrast to other p... View more
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