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December 10, 2009 | History

Inside-outside money competition 1 edition

Inside-outside money competition
Pedro Teles


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Inside-outside money competition
Pedro Teles, Ramon Marimon, Juan Pablo Nicolini.

Published 2003 by Federal Reserve Bank of Chicago in [Chicago, Ill.] .
Written in English.

About the Book

"We study how competition from privately supplied currency substitutes affects monetary equilibria. Whenever currency is inefficiently provided, inside money competition plays a disciplinary role by providing an upper bound on equilibrium inflation rates. Furthermore, if Furthermore, if 'inside monies' can be produced at a sufficiently low cost, outside money is driven out of circulation. Whenever a 'benevolent' government can commit to its fiscal policy, sequential monetary policy is efficient and inside money competition plays no role"--Federal Reserve Bank of Chicago web site.

Edition Notes

Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 10/4/2004.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.

Working paper series ;, WP-2003-09, Working paper series (Federal Reserve Bank of Chicago. Research Dept. : Online) ;, WP-2003-09.


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History Created December 10, 2009 · 1 revision Download catalog record: RDF / JSON

December 10, 2009 Created by WorkBot add works page