Heterogeneous asset valuation in OTC markets and optimal inflation
Journal of Economic Dynamics and Control, ISSN: 0165-1889, Vol: 161, Page: 104824
2024
- 3Captures
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Example: if you select the 1-year option for an article published in 2019 and a metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019. If you select the 3-year option for the same article published in 2019 and the metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019, 2018 and 2017.
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Example: if you select the 1-year option for an article published in 2019 and a metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019. If you select the 3-year option for the same article published in 2019 and the metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019, 2018 and 2017.
Citation Benchmarking is provided by Scopus and SciVal and is different from the metrics context provided by PlumX Metrics.
Metrics Details
- Captures3
- Readers3
Article Description
Building on recent work in monetary theory and finance, we develop a framework where money serves a double liquidity role, namely, it serves as a medium of exchange in goods markets as well as asset markets. We argue that studying such a framework is not only more empirically relevant, but also gives rise to new, important economic insights regarding the effects of inflation on welfare and asset prices. The main result of the paper is that, contrary to conventional wisdom, in our model welfare can be increasing in inflation due to a new channel whereby higher inflation promotes beneficial trade in the secondary asset market.
Bibliographic Details
http://www.sciencedirect.com/science/article/pii/S0165188924000162; http://dx.doi.org/10.1016/j.jedc.2024.104824; http://www.scopus.com/inward/record.url?partnerID=HzOxMe3b&scp=85184824839&origin=inward; https://linkinghub.elsevier.com/retrieve/pii/S0165188924000162; https://dx.doi.org/10.1016/j.jedc.2024.104824
Elsevier BV
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