A divisible search model of Fiat money

Article Abstract:

An extension of the Kiyotaki-Wright fiat money search model to support the consideration of divisible money and goods requires focusing on the double coincidence of wants in barter. Research results reveal that the frequency of trade is inter-dependent on the frequency of using money to barter. It is proven that the search money model may be used as an analytical alternative to Walresian monetary models, but it is unclear if it may be useful in quantitative analysis.

Other General Government Support, Coinage & Currency, Money, Paper money, Commerce

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Robust rank tests of the unit root hypothesis

Article Abstract:

Testing the unit root hypothesis in economic time series using the regression rank score process (Gutenbrunner and Jurecklova 1992) reveals that it is an innovative step exhibiting increased power and offers bigger size. The method, compared to the least squares method, is asymptotically Gaussian under a null hypothesis. Practical applications include measurements in velocity, industrial production, bond yield, wages, GNP, consumer price index, employment and stocks.

Ranking and selection (Statistics)

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Strategic information transmission with verifiable messages

Article Abstract:

The factors influencing monotonicity in a sender-receiver relationship depends on the social situations that surround each transaction. A model of a two-person signaling game with a sender choosing a message and a receiver choosing an action after observing the message shows a fully revealing equilibrium in verifiable message games. Monotonicity, a condition that characterizes social situations, is subject to variations according to the ideal action of the sender.

Analysis, Information theory, Information theory in economics

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