This essay surveys the new monetarist approach to liquidity. Work in this literature strives for
empirical and policy relevance, plus rigorous foundations. Questions include: What is …

This essay surveys the literature on directed/competitive search, covering theory and
applications in, eg, labor, housing and monetary economics. These models share features …

The purpose of this paper is to discuss some of the models used in New Monetarist
Economics, which is our label for a body of recent work on money, banking, payments …

Two experts in monetary policy offer a unified framework for studying the role of money and
liquid assets in the economy. In Money, Payments, and Liquidity, Ed Nosal and Guillaume …

African-American students are considerably more likely than their white peers to be rated as
disruptive by their teacher and experience school discipline, but are also much less likely to …

In this paper, I provide a possible explanation of why nominally risk-free bonds are essential
in monetary economies. I argue that the role of nominal bonds is to enable agents to engage …

A simple matching-model of money with the potential for counterfeiting is constructed. In
contrast to the existing literature, lotteries are included. These provide scope for the …

We study a market where innovators, who are good at coming up with ideas, can sell them to
entrepreneurs, who might be better at implementing them. The market is decentralized, with …

Many applications in monetary economics of search-and-bargaining theory use Shi–Trejos–
Wright, hereafter STW; many applications in finance use Duffie–Gârleanu–Pedersen …

We study how recognizability affects assets' acceptability, or liquidity. Some assets, like US
currency, are readily accepted because sellers can easily recognize their value, unlike stock …