Coinage, debasements, and Gresham's laws

This paper formulates a model of commodity money that circulates by tale, and applies it to a variety of situations, some of which seem to confirm, and others to contradict, `Gresham's Law'. We analyze how debasements could prompt decisions of citizens voluntarily to participate in recoinages that subjected them to seigniorage taxes.

MoreLess

Year of publication:	1997
Authors:	Smith, Bruce D. ; Sargent, Thomas J.
Published in:	Economic Theory. - Springer. - Vol. 10.1997, 2, p. 197-226
Publisher:	Springer

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Extent:	application/pdf application/postscript
Type of publication:	Article
Notes:	Received: December 19, 1994; revised version August 1, 1996
Classification:	E60 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005178726