On the Equivalence of Private and Public Money
收藏NBER2019-05-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w25877
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资源简介：
We develop a generic model of money and liquidity that identifies sources of liquidity bubbles and seignorage rents. We provide sufficient conditions under which a swap of monies leaves the equilibrium allocation and price system unchanged. We apply the equivalence result to the "Chicago Plan,''
提供机构：
美国国家经济研究局
创建时间：
2019-05-01
