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Liquidity and Trading Frictions

Ed Nosal and Guillaume Rocheteau

in Money, Payments, and Liquidity

Published in print:
2011
Published Online:
August 2013
ISBN:
9780262016285
eISBN:
9780262298285
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262016285.003.0012
Subject:
Economics and Finance, Econometrics

This chapter expounds on the notion of the liquidity of an asset and its ability to function as a medium of exchange. Here, trading frictions are not associated with the purchase and consumption of ... More


Optimal Exchange Rate Regimes: Turning Mundell-Fleming’s Dictum on Its Head

Amartya Lahiri, Rajesh Singh, and Carlos A. Végh

in Money, Crises, and Transition: Essays in Honor of Guillermo A. Calvo

Published in print:
2008
Published Online:
August 2013
ISBN:
9780262182669
eISBN:
9780262282284
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262182669.003.0003
Subject:
Economics and Finance, Econometrics

This chapter shows that the influential Mundell–Fleming result—that the choice of the optimal exchange rate regime should depend on the type of shock hitting the economy—critically depends on the ... More


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