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We use the demise of silver-based standards in the 19th century to explore price dynamics when a commodity-based money ceases to function as a global unit of account. We develop a general equilibrium model of the global economy with gold and silver money. Calibration of the model shows that...
Persistent link: https://www.econbiz.de/10012955754
We use the demise of silver-based standards in the 19th century to explore price dynamics when a commodity-based money ceases to function as a global unit of account. We develop a general equilibrium model of the global economy with gold and silver money. Calibration of the model shows that...
Persistent link: https://www.econbiz.de/10011646314
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Main description: Der Autor bietet eine umfassende Darstellung des Themas und hat dafür eine erhebliche Menge Spezialliteratur zu den einzelnen Aspekten ausgewertet. Er befaßt sich sowohl mit der vollkommenen Dollarisierung/Euroisierung von Volkswirtschaften (D/E-Systeme) als auch mit...
Persistent link: https://www.econbiz.de/10012220833
Since EMU represents a currency area with a GDP level and a world market share comparable to the United States, it is … widely expected that the euro will become an important international currency. This paper suggests simple methods how to …. Estimates presented indicate that the euro may indeed lead to a significant decline in the market share of the dollar as an …
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