This paper studies dual money circulation within a model a la Lagos andWright [18]. The main result of the analysis is the following. In a dual currency circulation economy, (i) the money type with an higher rate of growth circulates more widely than the money type with a lower rate of growth, and (ii) the two monies are symmetrically accepted if and only if they grow at the same rate.

Dual Currency Circulation and Information

SENESI, Pietro
2017-01-01

Abstract

This paper studies dual money circulation within a model a la Lagos andWright [18]. The main result of the analysis is the following. In a dual currency circulation economy, (i) the money type with an higher rate of growth circulates more widely than the money type with a lower rate of growth, and (ii) the two monies are symmetrically accepted if and only if they grow at the same rate.
2017
978-88-6991-145-3
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11574/175250
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