N. Kiyotaki and R. A. Wright, “A Contribution to the Pure Theory of Money,” Journal of Economic Theory, Vol. 23, No. 1, 1991, pp. 215-235. doi:10.1016/0022-0531(91)90154-V

has been cited by the following article:

• TITLE: Inseparability of Transaction Medium and Store of Value in the Role of Money

  AUTHORS: Masayuki Otaki

  KEYWORDS: Search Theory of Money; Degeneration of Monetary Economy into Barter Economy; Inseparability of Transaction Medium and Store of Value

  JOURNAL NAME: Theoretical Economics Letters, Vol.3 No.4, July 17, 2013

  ABSTRACT: We analyze whether or not money can be circulated as a purely transaction medium in the search theory. We obtain the following result: unless the role of a store of value added to the function of money, money does not circulate and the economy degenerates into a barter economy.