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Monetary Rules and Commodity Schemes Under Uncertainty

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NBER1985-10-01 更新2025-01-04 收录
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https://www.nber.org/papers/w1722
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The paper sets out a simple monetary model anduses it to compare alternative monetary systems. Money may be either fiat or gold. Both gold supply and velocity are uncertain. Asset demands are derived from expected utility maximization. I demonstrate the basic argument against a commodity money --
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1985-10-01
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