Is Barter a Hobson Choice? A Theory of Barter and Credit Rationing

Noguera, José De J.

doi:10.2139/ssrn.1499129

Abstract

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Is Barter a Hobson Choice? A Theory of Barter and Credit Rationing

José De J. Noguera

Charles University in Prague - CERGE-EI (Center for Economic Research and Graduate Education - Economics Institute)

September 1, 2004

CERGE-EI Working Paper Series No. 239

Abstract:
This paper proposes a theoretical monetary model to inquire as to whether the growth and decline in barter transactions between firms in Russia during the 1990s was the result of credit rationing or firms. optimal decision. The model also provides an explanation for the negative correlations between the share of total transactions between firms conducted through barter and inflation, and also to the quick decline in barter transactions that followed the 1998 currency crisis.

Number of Pages in PDF File: 27

Keywords: barter, interest rate, credit rationing, optimal choice

JEL Classification: E0, E4, E5, F41, P24, P26

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Date posted: November 5, 2009

Suggested Citation

Noguera, José De J., Is Barter a Hobson Choice? A Theory of Barter and Credit Rationing (September 1, 2004). CERGE-EI Working Paper Series No. 239. Available at SSRN: http://ssrn.com/abstract=1499129 or http://dx.doi.org/10.2139/ssrn.1499129

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José De Jesus Noguera Santaella (Contact Author)

Charles University in Prague - CERGE-EI (Center for Economic Research and Graduate Education - Economics Institute) ( email )

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Czech Republic
+420-2-240 05 107 (Phone)

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