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BEGIN:VEVENT
UID:a1d11fe53c67929d7e579b35c5f74f3e
CATEGORIES:Seminars
CREATED:20150210T193032
SUMMARY:Lunch Seminar: Neil Wallace - Pennsylvania State University
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p style="text-align: justify;"><strong>Optimal Money Creation in a Random 
 Matching Model: Some Planned Numerical Results</strong></p><p style="text-a
 lign: justify;">Abstract:</p><p style="text-align: justify;">We describe pl
 ans for computing optimal steady states in a version of the Shi (1995) and 
 Trejos-Wright (1995) random matching model with a large finite set of money
  holdings, [0; 1;…;B]. The optima are over how the gains from trade are div
 ided between buyers and sellers based on their money holdings and over para
 meters of the class of money transfer schemes described in Wallace (2013); 
 namely, transfers of the form max[0; 0 + 1m], where m is the post- trade mo
 ney held by a person and 1 > 0. The conjecture to be explored is that the n
 ature of optimal policy, even its direction in the sense of the sign of 0, 
 is parameter dependent. Unfortunately, there are as yet no results.</p>
DTSTAMP:20260405T192557Z
DTSTART:20140925T130000Z
DTEND:20140925T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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