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dc.contributor.authorRojas Breu, Mariana
dc.date.accessioned2017-07-13T12:41:21Z
dc.date.available2017-07-13T12:41:21Z
dc.date.issued2017
dc.identifier.issn0022-0531
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/16609
dc.language.isoenen
dc.subjectMoneyen
dc.subjectInflationen
dc.subjectDebt enforcementen
dc.subject.ddc332.4en
dc.subject.classificationjelE.E5.E50en
dc.subject.classificationjelE.E5.E51en
dc.subject.classificationjelE.E4.E41en
dc.titleDebt enforcement and the value of moneyen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenThis paper presents a framework in which fiat money has value in equilibrium even though a risk-free higher-return asset can be equally used as a medium of exchange. In a limited-commitment environment, agents may prefer to borrow a low-return asset because that results in a larger borrowing capacity. Thus, a monetary equilibrium in which money is dominated in rate of return exists.en
dc.relation.isversionofjnlnameJournal of Economic Theory
dc.relation.isversionofjnlvol168en
dc.relation.isversionofjnldate2017
dc.relation.isversionofjnlpages237-251en
dc.relation.isversionofdoihttps://doi.org/10.1016/j.jet.2016.12.010en
dc.relation.isversionofjnlpublisherAcademic Pressen
dc.subject.ddclabelPolitique monétaireen
dc.relation.forthcomingnonen
dc.relation.forthcomingprintnonen
dc.description.ssrncandidatenonen
dc.description.halcandidatenonen
dc.description.readershipnon-rechercheen
dc.description.audienceInternationalen
dc.relation.Isversionofjnlpeerreviewedouien
dc.relation.Isversionofjnlpeerreviewedouien
dc.date.updated2017-07-13T12:29:45Z
hal.person.labIds163511


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