Three esays on equity-based economics (exchange economy, banking, Islam) (Ph.D. Dissertation)

In three essays the author delves first into the topic ''Asset and Currency Prices in an Exchange Economy with Transactions Costs'' where he examines the behavior of equilibrium asset and currency prices in an exchange economy. In an exchange economy the use of money is encouraged by transactions costs. The author compares the transaction costs approach to the cash-in-advance approach. Next the author selects the topic ''Demand Deposit Financing: Debt versus Equity'' where he discusses the issues of the effects of financial deregulation of the banking system. The writer states that a number of authors have suggested that equity deposit contracts might substitute the traditional demand deposit contract. A critique of this proposition using a simple banking model. The author argues that the optimal choice among various contracts will depend on the informational structure of the economic environment. The final essay ''Islamic Banking: Observations from Its Early Performance in Pak