Cash and the Economy: Evidence from India's Demonetization
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We analyze a unique episode in the history of monetary economics, the 2016 Indian "demonetization." This policy made 86% of cash in circulation illegal tender overnight, with new notes gradually introduced over the next several months. We present a model of demonetization where agents hold cash both
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美国国家经济研究局创建时间：
2018-12-01
