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

CERGE-EI Working Paper Series No. 239

27 Pages Posted: 5 Nov 2009  

José de J. Noguera

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

Date Written: September 1, 2004

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.

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

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

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

José De Jesus Noguera Santaella (Contact Author)

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

P.O. Box 882
7 Politickych veznu
Prague 1, 111 21
Czech Republic
+420-2-240 05 107 (Phone)

HOME PAGE: http://www.cerge-ei.cz

Paper statistics

Downloads
14
Abstract Views
250