Results 91 to 100 of about 1,537,669 (180)
Money Illusion and Coordination Failure [PDF]
Economists long considered money illusion to be largely irrelevant. Here we show, however, that money illusion has powerful effects on equilibrium selection. If we represent payoffs in nominal terms, choices converge to the Pareto inefficient equilibrium;
Jean-Robert Tyran, Ernst Fehr
core +2 more sources
Helicopter Money: Irredeemable Fiat Money and the Liquidity Trap [PDF]
The paper provides a formalisation of the monetary folk proposition that fiat base money is an asset of the holder but not a liability of the issuer. The issuance of irredeemable fiat base money can have pure fiscal effects on private demand.
Willem H. Buiter
core
Accounting Perspectives, Volume 24, Issue 1, Page 21-46, March 2025.ABSTRACT Accountants should engage more with natural and cultural capital accounting to make tools more accessible and to ensure critical information is provided to decision‐makers. While ecological economists have continued to innovate and design tools, corporate‐level accounting has seemingly lagged behind.
S. Leanne Keddie +2 more
wiley +1 more source
Firm Characteristics, Unanticipated Inflation, and Stock Returns [PDF]
This paper re-examines the effects of nominal contracts on the relationship between unanticipated inflation and individual stock's rate of return. This study differs in three main ways from previous research.
Douglas K. Pearce, V. Vance Roley
core
The law of AI knowledge distillation
American Business Law Journal, EarlyView.Abstract Knowledge distillation—the practice of training a compact student model on the outputs of a larger teacher model—has emerged as the fastest‐growing technique for replicating and disseminating frontier artificial intelligence (AI) capabilities.
Taorui Guan
wiley +1 more source
Money in a theory of exchange [PDF]
Major problems in monetary economics are to: introduce money into the economy in a way that explains how money arises endogenously; explain why money is preferred to other methods of exchange; and identify the welfare gains from using money.
Daniel L. Thornton
core
Commercial treaties and political transformation in Sulu and Southeast Asian littorals, c. 1830–1840
Asia‐Pacific Economic History Review, EarlyView.Abstract This article re‐examines an economic treaty concluded between Spain and the Sulu Sultanate in 1836. Analysing the Tausug (Jawi) and Spanish treaty versions alongside archival sources from Spain, the Philippines, and England, it traces the impact of indigenous agency beyond the formal signatories on economic and political transformations ...
Eleonora Poggio +2 more
wiley +1 more source
Nominal Debt as a Burden on Monetary Policy [PDF]
We characterize the optimal sequential choice of monetary policy in economies with either nominal or indexed debt. In a model where nominal debt is the only source of time inconsistency, the Markov-perfect equilibrium policy implies the progressive ...
Ramon Marimon +3 more
core +2 more sources
The Role of Money Demand in a Business Cycle Model with Staggered Wage Contracts [PDF]
The question of the main determinants of persistent responses due to nominal shocks captures, at least since Chari et al. (2000), a major part of the recent macroeconomic debate.
Rubart, Jens, Gerke, Rafael
core
Asia‐Pacific Economic History Review, EarlyView.Abstract How did a British colony, not supplied with coin and with no tax base, establish itself a world away from London? Drawing on the Historical Records of Australia and British parliamentary Appropriation Acts from 1787 to 1832, this paper shows that Phillip, the first Governor of New South Wales, spent by issuing promises to pay against the ...
Matthew Crocker
wiley +1 more source