R. E. Lucas Jr., “Expectations and the Neutrality of Money,” Journal of Economic Theory, Vol. 4, No. 2, 1972, pp. 103-124. doi:10.1016/0022-0531(72)90142-1

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.