An idealized view of financial intermediation
(2007)
Journal Article
Sissoko, C. (2007). An idealized view of financial intermediation. Economics, Article 2007-5
We consider an environment where the general equilibrium assumption that every agent buys and sells simultaneously is relaxed. We show that fiat money can implement a Pareto optimal allocation only if taxes are type-specific. We then consider interme... Read More about An idealized view of financial intermediation.