Is Money Essential? An Experimental Approach

Abstract

We gratefully acknowledge funding from Indiana University and the Bank of Canada. Wright acknowledges support from the Ray B. Zemon Chair in Liquid Assets and the Kenneth Burdett Professorship in Search Theory and Applications at the University of Wisconsin. The views expressed in this paper are those of the authors and not necessarily those of the Federal Reserve Bank of Richmond or the Federal Reserve System. Also no responsibility should be attributed to the Bank of Canada.