Publicação
Individual and aggregate money demands
| Resumo: | I construct a model in which money and bond holdings are consistent with individual decisions and aggregate variables such as production and interest rates. The agents are infinitely-lived, have constant-elasticity preferences, and receive a fraction of their income in money. Each agent solves a Baumol-Tobin money management problem. Markets are segmented because financial frictions make agents trade bonds for money at different times. Trading frequency, consumption, government decisions and prices are mutually consistent. An increase in inflation, for example, implies higher trading frequency, more bonds sold to account for seigniorage, and lower real balances. |
|---|---|
| Autores principais: | Silva, André C. |
| Assunto: | Money demand Cash management Inventory problem Market segmentation |
| Ano: | 2011 |
| País: | Portugal |
| Tipo de documento: | working paper |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade Nova de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório Institucional da UNL |
| _version_ | 1868983787956731904 |
|---|---|
| author | Silva, André C. |
| author_facet | Silva, André C. |
| author_role | author |
| contributor_name_str_mv | RUN |
| country_str | PT |
| creators_json_txt | [{\"Person.name\":\"Silva, André C.\",\"Person.identifier.orcid\":\"0000-0002-4907-038X\"}] |
| datacite.contributors.contributor.contributorName.fl_str_mv | RUN |
| datacite.creators.creator.creatorName.fl_str_mv | Silva, André C. |
| datacite.date.Accepted.fl_str_mv | 2011-07-01T00:00:00Z |
| datacite.date.available.fl_str_mv | 2014-01-24T11:32:36Z |
| datacite.date.embargoed.fl_str_mv | 2014-01-24T11:32:36Z |
| datacite.rights.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| datacite.subjects.subject.fl_str_mv | Money demand Cash management Inventory problem Market segmentation |
| datacite.titles.title.fl_str_mv | Individual and aggregate money demands |
| dc.contributor.none.fl_str_mv | RUN |
| dc.creator.none.fl_str_mv | Silva, André C. |
| dc.date.Accepted.fl_str_mv | 2011-07-01T00:00:00Z |
| dc.date.available.fl_str_mv | 2014-01-24T11:32:36Z |
| dc.date.embargoed.fl_str_mv | 2014-01-24T11:32:36Z |
| dc.format.none.fl_str_mv | application/pdf |
| dc.identifier.none.fl_str_mv | http://hdl.handle.net/10362/11174 |
| dc.language.none.fl_str_mv | eng |
| dc.publisher.none.fl_str_mv | Nova SBE |
| dc.rights.none.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| dc.subject.none.fl_str_mv | Money demand Cash management Inventory problem Market segmentation |
| dc.title.fl_str_mv | Individual and aggregate money demands |
| dc.type.none.fl_str_mv | http://purl.org/coar/resource_type/c_8042 |
| description | I construct a model in which money and bond holdings are consistent with individual decisions and aggregate variables such as production and interest rates. The agents are infinitely-lived, have constant-elasticity preferences, and receive a fraction of their income in money. Each agent solves a Baumol-Tobin money management problem. Markets are segmented because financial frictions make agents trade bonds for money at different times. Trading frequency, consumption, government decisions and prices are mutually consistent. An increase in inflation, for example, implies higher trading frequency, more bonds sold to account for seigniorage, and lower real balances. |
| dirty | 0 |
| eu_rights_str_mv | openAccess |
| format | workingPaper |
| fulltext.url.fl_str_mv | https://run.unl.pt/bitstreams/e55f4125-1b0b-4384-8e7f-346a0e35c8e8/download |
| id | run_631dfdcfa9a22c76e85f18cab9f2b60b |
| identifier.url.fl_str_mv | http://hdl.handle.net/10362/11174 |
| inst_facet_str | urn:organizationAcronym:unl{{{_:::_}}}Universidade Nova de Lisboa |
| instacron_str | unl |
| institution | Universidade Nova de Lisboa |
| instname_str | Universidade Nova de Lisboa |
| language | eng |
| network_acronym_str | run |
| network_name_str | Repositório Institucional da UNL |
| oai_identifier_str | oai:run.unl.pt:10362/11174 |
| organization_str_mv | urn:organizationAcronym:unl |
| person_str_mv | Silva, André C. Silva, André C. https://www.ciencia-id.pt/F413-A5FB-8C42 F413-A5FB-8C42 http://orcid.org/0000-0002-4907-038X 0000-0002-4907-038X |
| publishDate | 2011 |
| publisher.none.fl_str_mv | Nova SBE |
| repo_facet_str | urn:repositoryAcronym:run{{{_:::_}}}Repositório Institucional da UNL |
| reponame_str | Repositório Institucional da UNL |
| repository_id_str | urn:repositoryAcronym:run |
| service_str_mv | urn:repositoryAcronym:run |
| spelling | engNova SBEporI construct a model in which money and bond holdings are consistent with individual decisions and aggregate variables such as production and interest rates. The agents are infinitely-lived, have constant-elasticity preferences, and receive a fraction of their income in money. Each agent solves a Baumol-Tobin money management problem. Markets are segmented because financial frictions make agents trade bonds for money at different times. Trading frequency, consumption, government decisions and prices are mutually consistent. An increase in inflation, for example, implies higher trading frequency, more bonds sold to account for seigniorage, and lower real balances.application/pdfporIndividual and aggregate money demandsPersonalSilva, André C.DSpacehttp://dspace.org/items/6421653c-fd86-4041-a5b2-a0119c460345DSpacehttp://dspace.org/items/6421653c-fd86-4041-a5b2-a0119c460345SilvaAndreCiência IDhttps://www.ciencia-id.ptF413-A5FB-8C42ORCIDhttp://orcid.org0000-0002-4907-038XResearcher IDhttps://www.researcherid.comF-5279-2014Scopus Author IDhttps://www.scopus.com24391740800Scopus Author IDhttps://www.scopus.com55979651700Scopus Author IDhttps://www.scopus.com24391740800Scopus Author IDhttps://www.scopus.com57217534191HostingInstitutionOrganizationalRUNe-mailmailto:run@unl.ptrun@unl.pt2014-01-24T11:32:36Z2011-072011-07-01T00:00:00ZHandlehttp://hdl.handle.net/10362/11174http://purl.org/coar/access_right/c_abf2open accessMoney demandCash managementInventory problemMarket segmentation310501 bytesother research producthttp://purl.org/coar/resource_type/c_8042working paperhttp://purl.org/coar/access_right/c_abf2application/pdffulltexthttps://run.unl.pt/bitstreams/e55f4125-1b0b-4384-8e7f-346a0e35c8e8/download |
| spellingShingle | Individual and aggregate money demands Silva, André C. Money demand Cash management Inventory problem Market segmentation |
| status | SINGLETON |
| subject.fl_str_mv | Money demand Cash management Inventory problem Market segmentation |
| title | Individual and aggregate money demands |
| title_full | Individual and aggregate money demands |
| title_fullStr | Individual and aggregate money demands |
| title_full_unstemmed | Individual and aggregate money demands |
| title_short | Individual and aggregate money demands |
| title_sort | Individual and aggregate money demands |
| topic | Money demand Cash management Inventory problem Market segmentation |
| topic_facet | Money demand Cash management Inventory problem Market segmentation |
| url | http://hdl.handle.net/10362/11174 |
| visible | 1 |