Search- Theoretic Models of International Currency
نویسندگان
چکیده
Search-based theories of the exchange process provide economists with a way of formalizing the microfoundations of monetary economics and to discuss a variety of issues in monetary theory and policy in a new light. Many questions that cannot even be formulated in more traditional monetary models can be profitably analyzed in these new models. In this essay, we propose to review recent developments using search-based models to study some international monetary issues. There seems little doubt that international monetary economics is of central importance today. Of the types of questions one would ultimately like to answer, consider these:
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