Aleksander Berentsen
Biographic Data
| ID | 5732083 |
|---|---|
| NAME | Aleksander Berentsen |
| GIVEN NAMES | Aleksander |
| FAMILY NAME | Berentsen |
| SIGNATURE | BERENTSEN A |
| AFFILIATIONS | University of Basel |
| VERIFIED | No |
| TOTAL WORKS | 5 |
| TOTAL CITATIONS | 0 |
| AUTHOR COUNT | 5 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1997 |
| LATEST PUBLICATION YEAR | 2018 |
| H-INDEX | 0 |
Limited Commitment and the Demand for Money
Understanding money demand is important for our comprehension of macroeconomics and monetary policy. Its instability has made this a challenge. Common explications for the instability are financial regulations and financial innovations that shift the money demand function. We provide a complementary view by showing that a model where borrowers have limited commitment can significantly improve the fit between the theoretical money demand function …
Friedman Meets Hosios: Efficiency in Search Models of Money
This article studies optimal monetary policy in an economy with endogenous search decisions. We show that the same frictions that give fiat money a positive value generate an inefficient quantity of goods in each trade and an inefficient number of trades. The Friedman rule eliminates the first inefficiency and the Hosios rule the second. A monetary equilibrium attains the social optimum if and only if both rules are satisfied. When they cannot be…
Digital Money, Liquidity, and Monetary Policy (originally published in July 1997)
The term digital money refers to various proposed electronic payment mechanisms designed for use by consumers to make retail payments. Digital money products have the potential to replace central bank currency, thereby affecting the money supply. This paper studies the effect of replacing central bank currency on the narrowly defined stock of money under various assumptions regarding regulatory policies and monetary operations of central banks an…
Fraudulent Accounting and Other Doping Games
From a game-theoretic point of view, fraudulent accounting to embellish the financial status of a firm and the use of drugs to enhance performance in sports are very similar. We study the replicator dynamics of such games. We allow for heterogeneous populations, such as highly talented versus more mediocre athletes, or high-quality managers versus less able colleagues. For some parameters we find cyclical dynamics, so we may see waves of doping a…
Monetary Policy Implications of Electronic Money
The term digital money refers to various proposed electronic payment mechanisms designed for use by consumers to make retail payments. Digital money products have the potential to replace central bank currency, thereby affecting the money supply. This paper studies the effect of replacing central bank currency on the narrowly defined stock of money under various assumptions regarding regulatory policies and monetary operations of central banks an…
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Monetary Policy Implications of Electronic Money
The term digital money refers to various proposed electronic payment mechanisms designed for use by consumers to make retail payments. Digital money products have the potential to replace central bank currency, thereby affecting the money supply. This paper studies the effect of replacing central bank currency on the narrowly defined stock of money under various assumptions regarding regulatory policies and monetary operations of central banks an…
Fraudulent Accounting and Other Doping Games
From a game-theoretic point of view, fraudulent accounting to embellish the financial status of a firm and the use of drugs to enhance performance in sports are very similar. We study the replicator dynamics of such games. We allow for heterogeneous populations, such as highly talented versus more mediocre athletes, or high-quality managers versus less able colleagues. For some parameters we find cyclical dynamics, so we may see waves of doping a…
Digital Money, Liquidity, and Monetary Policy (originally published in July 1997)
The term digital money refers to various proposed electronic payment mechanisms designed for use by consumers to make retail payments. Digital money products have the potential to replace central bank currency, thereby affecting the money supply. This paper studies the effect of replacing central bank currency on the narrowly defined stock of money under various assumptions regarding regulatory policies and monetary operations of central banks an…
Friedman Meets Hosios: Efficiency in Search Models of Money
This article studies optimal monetary policy in an economy with endogenous search decisions. We show that the same frictions that give fiat money a positive value generate an inefficient quantity of goods in each trade and an inefficient number of trades. The Friedman rule eliminates the first inefficiency and the Hosios rule the second. A monetary equilibrium attains the social optimum if and only if both rules are satisfied. When they cannot be…
Limited Commitment and the Demand for Money
Understanding money demand is important for our comprehension of macroeconomics and monetary policy. Its instability has made this a challenge. Common explications for the instability are financial regulations and financial innovations that shift the money demand function. We provide a complementary view by showing that a model where borrowers have limited commitment can significantly improve the fit between the theoretical money demand function …
Economics (4 works) · Monetary economics (4 works) · Monetary policy (4 works) · Business (3 works) · Demand deposit (3 works) · Endogenous money (3 works) · Commerce (2 works) · Currency (2 works) · Digital currency (2 works) · Digital Platforms and Economics (2 works)