منابع مشابه
Money and Competing Assets under Private Information
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The paper offers a new formulation of the old hypothesis that money exists due to shortage of other financial assets. The theory admits various monetary regimes, ranging from a strict gold standard to interest-bearing fiat money in the form of nominal government bonds. A central assumption is that claims on currently non-existing real assets, which will be productive in the future, are not trad...
متن کاملInformation Assets and their Value
This paper presents the results from a literature study on the value of information. I have reviewed the information, accounting and business literature to find economic attributes of information and information valuation attempts. There is at least some consensus on a number economic properties and identifying information as an asset to the organization. Also a number of valuation attempts hav...
متن کاملPairwise trade and coexistence of money and higher-return assets
A new theory of coexistence of money and higher-return assets is set out. It applies to any setting in which some trade involves an exchange of goods for assets and occurs between two people–a buyer and a seller. We show that there exists a function mapping the portfolios of the buyer and the seller to the trade that occurs such that (i) the trade is in the buyer-seller core and (ii) some peopl...
متن کاملThe Supply and Demand for Safe Assets
There is a demand for safe assets, either government bonds or private substitutes, for use as collateral. Government bonds are safe assets, given the government’s power to tax, but their supply is driven by fiscal considerations, and does not necessarily meet the private demand for safe assets. Unlike the government, the private sector cannot produce riskless collateral. When the private sector...
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ژورنال
عنوان ژورنال: Verslas: teorija ir praktika
سال: 2008
ISSN: 1648-0627,1822-4202
DOI: 10.3846/1648-0627.2008.9.210-214