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What Is Old Is New Again

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Author Info
Gravelle, Toni

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Abstract

Formal modeling of money's origin and function as medium of exchange has until recently been elusive. However, the advent of search-based models of money has contributed to a renewed interest in modeling money's medium of exchange function. As well as exploring the origins of commodity money, the search-based models of money allow for the endogenous emergence of valued fiat currency. This paper endeavours to relate and compare the new insights derived from these models of money to some of the ideas put forward by early theorists on the origins of money. Copyright 1996 by Blackwell Publishers Ltd and The Victoria University of Manchester

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Publisher Info
Article provided by Blackwell Publishing in its journal The Manchester School of Economic & Social Studies.

Volume (Year): 64 (1996)
Issue (Month): 4 (December)
Pages: 388-404
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Handle: RePEc:bla:manch2:v:64:y:1996:i:4:p:388-404

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  1. Bertocco Giancarlo, 2006. "Are banks special? A note on Tobin’s theory of financial intermediaries," Economics and Quantitative Methods qf0604, Department of Economics, University of Insubria. [Downloadable!]
  2. Giancarlo Bertocco, 2005. "The Role of credit in a Keynesian monetary economy," Review of Political Economy, Taylor and Francis Journals, vol. 17(4), pages 489-511, October. [Downloadable!] (restricted)
    Other versions:
  3. Bertocco Giancarlo, 2003. "The characteristics of a monetary economy: a Keynes-Schumpeter approach," Economics and Quantitative Methods qf0311, Department of Economics, University of Insubria. [Downloadable!]
    Other versions:
  4. Laidler, David, 1999. "The Quantity of Money and Monetary Policy," Working Papers 99-5, Bank of Canada. [Downloadable!]
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