[HTML][HTML] Coexistence of money and interest-bearing bonds
H van Buggenum - Journal of Economic Dynamics and Control, 2023 - Elsevier
I construct a monetary model with agents that face idiosyncratic shocks to how they discount
future utility. Once shocks are revealed, agents trade money for bonds in a financial market …
future utility. Once shocks are revealed, agents trade money for bonds in a financial market …