Browsing by Keyword "Imperfect monitoring"

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    • Counterfeiting as private money in mechanism design 

      Cavalcanti, Ricardo de Oliveira; Nosal, Ed
      2011-10
      We describe counterfeiting activity as the issuance of private money, one that is difficult to monitor. Our approach, which amends the basic random-matching model of money in mechanism design, allows a tractable welfare ...

    • Essays on banking theory and history of financial arrangements 

      Ferreira, Murilo Resende
      2014-06-27
      This thesis contains two chapters, each one dealing with banking theory and the history of financiai arrangements. In Chapter 1, we extend a Diamond and Dybvig economy with imperfect monitoring of early withdrawals and ...