The Price Theory of Money, Prospero's Liquidity Trap, and Sudden Stop: Back to Basics and Back
收藏NBER2012-08-01 更新2025-01-04 收录
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https://www.nber.org/papers/w18285
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资源简介：
Fiat money contains the seeds of its own destruction. It has no intrinsic value and, yet, it can be exchanged for valuable consumption and production goods. As Hahn (1965) shows, this situation puts fiat money's market value or liquidity premium at the brink of collapse. In this paper I will argue
提供机构：
美国国家经济研究局
创建时间：
2012-08-01
