Money, Payments, and Liquidity, second edition

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This revised edition delves into the economics of money, liquidity, and payments, utilizing a dynamic general equilibrium framework. The authors, Guillaume Rocheteau and Ed Nosal, explore trade mechanics and frictions like search and private information, highlighting the significance of money and liquid assets in facilitating trade. Key discussions include cashless economies, optimal monetary policy, the interplay of money and credit, and the impact of liquidity on asset prices and monetary policy, providing a thorough understanding of these essential economic elements.