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.File in questo prodotto:
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