CERGE-EI Working Paper Series No. 239
27 Pages Posted: 5 Nov 2009
Date Written: September 1, 2004
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.
Keywords: barter, interest rate, credit rationing, optimal choice
JEL Classification: E0, E4, E5, F41, P24, P26
Suggested Citation: 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: https://ssrn.com/abstract=1499129 or http://dx.doi.org/10.2139/ssrn.1499129