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Neil Wallace
Researcher at Pennsylvania State University
Publications - 159
Citations - 11801
Neil Wallace is an academic researcher from Pennsylvania State University. The author has contributed to research in topics: Monetary policy & Currency. The author has an hindex of 44, co-authored 157 publications receiving 11452 citations. Previous affiliations of Neil Wallace include University of Miami & Federal Reserve Bank of Minneapolis.
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Why Markets in Foreign Exchange Are Different From Other Markets
TL;DR: In this paper, the authors argue that the only feasible regimes for these special markets are floating exchange rates with capital controls or fixed exchange rates for monetary and budget policy coordination, and that any price will work in these markets.
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Output and price level effects of monetary uncertainty in a matching model
TL;DR: Monetary uncertainty and information lags are put into a random matching model so that the resulting setting has some meetings in which producers are relatively informed and others in which consumers are relativelyinformed.
Posted Content
Optimal allocations with incomplete record-keeping and no commitment
TL;DR: In this article, the authors study a random-matching, absence-of-double-coincidence environment in which people cannot precommit and in which there are two imperfect ways of keeping track of what other people have done in the past: money and a public record of all past actions that is updated with an average lag.
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A model of the liquidity structure based on asset indivisibility
TL;DR: In this article, the authors take the liquidity of an asset to be its transaction velocity, the amount traded per unit time divided by the stock, and show that a sufficiently large asset has a lower velocity and a higher yield than a sufficiently small asset.