Pledgability and Liquidity: A New Monetarist Model of Financial and Macroeconomic Activity
Chapter in NBER book NBER Macroeconomics Annual 2013, Volume 28 (2014), Jonathan A. Parker and Michael Woodford, editors (p. 227 - 270)
---- Acknowledgements ----
We thank Guido Menzio, Guillaume Rocheteau, Neil Wallace, Yu Zhu and Chao He for their input, as well as participants in seminars or conference presentations at Wisconsin, Columbia, USC, the 2012 SED Meetings in Cyprus, and the 2012 FRB Chicago Conference on Money, Banking and Payments. Wright thanks the National Science Foundation and the Ray Zemon Chair in Liquid Assets at the Wisconsin School of Business for research support. We also thank the Toulouse School of Economics, where we began this project, for their hospitality. The usual disclaimers apply.
---- Disclosure of Financial Relationships for Randall Wright ----