Chen, Yen-liang; Lai, Cheng-chung - In: Economic History of Developing Regions 27 (2012) 2, pp. 37-46
Gresham's law states only one precondition: in the world of metal coins, if there is a fixed rate of exchange between good and bad money, then bad money will drive out good. We argue, however, that when there is <italic>no</italic> fixed exchange rate between good and bad money, and when the government...