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model with two indivisible coins with different intrinsic values. The model shows that small change shortages can exist in … interpreted as optimal responses to changes in fundamentals. Further, the model shows that replacing full-bodied small coins with …
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Currency in circulation, together with demand deposits, is a component of narrow money which movements are of special interest for policy makers. There are several relevant indicators showing the relative significance of the currency in circulation in particular economy, among which the most...
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