Monetary Policy and Models of Money, Credit and Banking

Grant number: DE120102589 | Funding period: 2014 - 2018

Completed

Abstract

This project develops models with money and credit following recent developments in monetary theory with microfoundations. The objectives of the project are to understand the fundamental functions of credit, how credit affects the aggregate economy, and how credit affects the transmission of monetary policy.

Related publications (6)

A macroeconomic theory of banking oligopoly

M Dong, S Huangfu, H Sun, C Zhou

2021-09-01

We study the behavior and macroeconomic impact of oligopolistic banks in a tractable environment with micro-foundations for money ..

Money and Costly Credit

M Dong, S Huangfu

2021-09-01

We study an economy in which money and credit serve as a means of payment and the settlement of credit requires money. The model e..

LIQUIDITY, MONETARY POLICY, AND UNEMPLOYMENT: A NEW MONETARIST APPROACH

M Dong, SX Xiao

2019-01-01

We discover a consumption channel of monetary policy in a model with money and government bonds. When the central bank withdraws g..

On the Welfare Effects of Credit Arrangements

J Chiu, M Dong, E Shao

2018-08-01

This article studies the welfare effects of credit arrangements and how these effects depend on the trading mechanism and inflatio..

Marriage, markets, and money: a Coasian theory of household formation

K Burdett, M Dong, L Sun, R Wright

2016-05-01

This article integrates search-based models of marriage and money. We think about households as organizations, the way Coase think..

Money and price posting under private information

M Dong, JH Jiang

2014-01-08

We study price posting with undirected search in a search-theoretic monetary model with divisible money and divisible goods. Ex an..

University of Melbourne Researchers

Mei Dong