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Viewpoint: A microfoundation of monetary economics

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In this lecture, I explain what the microfoundations of money are about and why they are necessary for monetary economics. Then, I review recent developments of a particular microfoundation of money, commonly known as the search theory of money. Finally, I outline some unresolved issues.
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Keywords: E40; E50

Document Type: Research Article

Affiliations: Department of Economics, University of Toronto

Publication date: 2006-08-01

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