This paper analyzes governments' attempts to replace circulating notes with coins. It argues that because of network externalities in currency systems, a government cannot simply offer a new coin, such as the Susan B. Anthony dollar, to the public and expect it to circulate, even when the coin/note substitution would benefit the economy. For such a substitution to succeed, a government may need to force the adoption of the coin by withdrawing the competing bill from circulation. Copyright 1994 by Ohio State University Press.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 26 (1994) Issue (Month): 3 (August) Pages: 495-510 Download reference. The following formats are available: HTML
(with abstract),
plain text
(with abstract),
BibTeX,
RIS (EndNote, RefMan, ProCite),
ReDIF
For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).
Related research
Keywords:
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)