Showing 1 - 8 of 8
How beneficial is a fully recognizable money to the economy? This paper answers this question for the commodity money system. We build a model in which money is made of precious metal coins, yet its intrinsic quality is imperfectly recognizable by sellers. Based on historical evidence, we allow...
Persistent link: https://www.econbiz.de/10014213390
When money was made of gold and silver, individuals faced the problem of determining the intrinsic content of coins in many exchange situations. In this paper we look at a well-documented solution to this problem, and a key institution of the commodity money system: coin assaying. To that goal...
Persistent link: https://www.econbiz.de/10013048035
Persistent link: https://www.econbiz.de/10010439818
Persistent link: https://www.econbiz.de/10011805474
Persistent link: https://www.econbiz.de/10009385384
Persistent link: https://www.econbiz.de/10001590479
Persistent link: https://www.econbiz.de/10001762353
Persistent link: https://www.econbiz.de/10009735782