Inside-outside money competition
by Pedro Teles
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"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.
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Inside-outside money competition
2003, Federal Reserve Bank of Chicago
Electronic resource
in English
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Book Details
Published in
[Chicago, Ill.]
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.
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| December 11, 2020 | Edited by MARC Bot | import existing book |
| December 10, 2009 | Created by WorkBot | add works page |