"Can Robbery and Other Theft Help Explain the Textbook Currency-demand Puzzle? Two Dreadful Models of Money Demand with an Endogenous Probability of Crime"
This paper attempts to explain one version of an empirical puzzle noted by Mankiw (2003): a Baumol-Tobin inventory-theoretic money demand equation predicts that the average U.S. adult should have held approximately $551.05 in currency and coin in 1995, while data show an average of $100. The models...
| 1. VerfasserIn: | |
|---|---|
| Medienart: | Elektronisch Buch |
| Sprache: | Englisch |
| Online-Zugang: |
Volltext (kostenfrei) |
| Verfügbarkeit prüfen: | HBZ Gateway |
| Schlagwörter: |
