; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "More on Money as a Medium of Exchange"; ; "batchuser@example.com"; "Kehoe, Timothy Jerome, 1953-", "Kiyotaki, Nobuhiro", "Wright, Randall D."; "Federal Reserve Bank of Minneapolis"; "Economic Theory", "Dynamic Equilibrium", "Commodity Money"; "We extend the analysis of Kiyotaki and Wright, who study an economy in which the different commodities that serve as media of exchange are determined endogenously. Kiyotaki and Wright consider only symmetric, steady-state, pure-strategy equilibria, and find that for some parameter values no such equilibria exist. We consider mixed-strategy equilibria and dynamic equilibria. We prove that a steady-state equilibrium exists for all parameter values and that the number of steady-state equilibria is generically finite. We also show, however, that there may be a continuum of dynamic equilibria. Further, some dynamic equilibria display cycles."^^; "1991-05"; "2019-09-14T05:00:42.48571751+00:00"^^; "https://doi.org/10.21034/sr.140"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "Thu Nov 7 22:12:47 2019"; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "394", "402", "859"; "Staff report (Federal Reserve Bank of Minneapolis. Research Department)"; "140"; "Economic Theory", "Commodity Money", "Dynamic Equilibrium"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; "Published in: _Economic Theory_ (Vol. 3, No. 2, April 1993, pp. 297-314) https://doi.org/10.1007/BF01212919. "^^; ; "Publication" . ; .