Zobrazeno 1 - 9
of 9
pro vyhledávání: '"Bruce A. Smith"'
Publikováno v:
Economic Theory. 24:741-767
Autor:
Bruce D. Smith
Publikováno v:
Economic Theory. 12:451-460
Autor:
Bruce D. Smith, John H. Boyd
Publikováno v:
Economic Theory. 11:241-273
We consider a monetary growth model essentially identical to that of Diamond (1965) and Tirole (1985), except that we explicitly model credit markets, a credit market friction, and an allocative function for financial intermediaries. These changes yi
Autor:
Thomas J. Sargent, Bruce D. Smith
Publikováno v:
Economic Theory. 10:197-226
This paper formulates a model of commodity money that circulates by tale, and applies it to a variety of situations, some of which seem to confirm, and others to contradict, `Gresham's Law'. We analyze how debasements could prompt decisions of citize
Publikováno v:
Economic Theory. 7:19-50
We investigate the function of liquid financial markets for the allocation of productive capital. We consider an economy where agents endogenously choose among capital production technologies with differing gestation periods. Long-gestation capital i
Autor:
Bruce D. Smith
Publikováno v:
Economic Theory. 4:327-344
There is increasing interest in conducting monetary policy so as to achieve a given target inflation rate (or price level path). Several policies that have been advocated for this purpose are evaluated on the following criteria: (a) are they consiste
Autor:
Thomas F. Cooley, Bruce D. Smith
Publikováno v:
Economic Theory. 3:597-623
The design and implementation of monetary arrangements has important implications for the welfare and determinacy properties of equilibria that arise under competitive monetary exchange. In this paper we consider one particular feature of a monetary
Autor:
John H. Boyd, Bruce D. Smith
Publikováno v:
Economic Theory. 3:427-451
We consider credit rationing in an environment with adverse selection and costly state verification. The presence of costly state verification permits debt contracts to emerge under conditions that we specify. When debt contracts are observed, so is
Publikováno v:
Economic Theory. 7:19