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- W3123223362 abstract "This paper identifies simple conditions for monotone comparative statics of a unique equilibrium in the Akerlof-Wilson model. Separate conditions apply to trade volume and price. Trade volume increases when supply becomes both stronger and more elastic. In contrast, price decreases when supply becomes both stronger and less elastic. An application to the interbank market suggests surprisingly specific measures to address elevated term rates and market breakdown." @default.
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- W3123223362 date "2009-11-01" @default.
- W3123223362 modified "2023-09-27" @default.
- W3123223362 title "Lemons and money markets" @default.
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