Now showing items 1-2 of 2

    • Limited monitoring and the essentiality of money 

      Araujo, Luis Fernando Oliveira de; Camargo, Bráz Ministério de
      Monetary theory emphasizes that imperfect monitoring is necessary for money to be essential, that is, for money to achieve socially desirable allocations. Little is known about how limited monitoring must be if money is ...
    • Money and credit remix 

      Araújo, Luis; Ferraris, Leo
      Gu, Mattesini, and Wright (2016) show that credit is irrelevant in a monetary economy with permanent buyer and seller types. In particular, the size of debt limits do not matter for the determination of real allocations. ...