Browsing by Author "c244a16d-68df-4eaf-b608-0efa8dd9f1b5"
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Illiquid Financial Markets and Monetary Policy
Suárez-Lledó Grande, José; Geromichalos, Athanasios; Licari, JuanThis paper analyzes the role of money in asset markets characterized by search frictions. We develop a dynamic framework that brings together a model for illiquid financial assets `a la Duffie, G arleanu, and Pedersen, ...