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Private Money and Reserve Management in a Random Matching Model.

Cavalcanti, R. ; Erosa, A. ; Temzelides, T. 

We introduce an element of centralization in a random matching model of money that allows for private liabilities to circulate as media of exchange. Some agents which we identify as banks, are endowed with the technology to issue notes and to record-keep reserves with a central clearinghouse, which wa call the treasory.

Creation: 1997
Keywords: MONEY ; ECONOMIC MODELS
Length: 41 pages
Handle: RePEc:fth:weonec:9715

Related papers by JEL classification: E40 E41 

Paper provided by Western Ontario - Department of Economics in its series Western Ontario - Department of Economics 
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Note by John Zube:
I would have liked to copy the whole paper - but apparently it is copyrighted and the linkages required to copy it were still too difficult for me at this stage to master. If I could get reproduction permission and a photoready copy then I would gladly include this paper in my LMP - Peace Plans - Free Banking collection on microfiche. - J.Z., 17.12.1998.