Listagem por autor "Puzzello, Daniela"

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    • The essentiality of money in environments with centralized trade 

      Araújo, Luís; Camargo, Bráz Ministério de; Minetti, Raoul; Puzzello, Daniela
      2012
      Lagos and Wright (2005) introduced an influential model of monetary exchange in which trade alternates between centralized and decentralized markets and money is essential. A limitation of their model and of the literature ...

    • Stationarity without degeneracy in a model of commodity money 

      Cavalcanti, Ricardo de Oliveira; Puzzello, Daniela
      2010-05
      We develop a model of macroeconomic heterogeneity inspired by the Kiyotaki-Wright (J Polit Econ 97:924-954, 1989) formulation of commodity money, with the addition of linear utility and idiosyncratic shocks to savings. We ...