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Silver and Gold and Liquidity

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Abstract

A simple model with trade in gold is explored where the cost of liquidity is measured in terms of utility foregone by using the gold as a money or means of payment rather than for utilitarian purposes. We close with remarks on the use of both silver and gold.

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  • Martin Shubik, 1987. "Silver and Gold and Liquidity," Cowles Foundation Discussion Papers 841, Cowles Foundation for Research in Economics, Yale University.
    • Handle: RePEc:cwl:cwldpp:841
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    1. Dubey, Pradeep & Shubik, Martin, 1979. "Bankruptcy and optimality in a closed trading mass economy modelled as a non-cooperative game," Journal of Mathematical Economics, Elsevier, vol. 6(2), pages 115-134, July.
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    Cited by:

    1. Martin Shubik, 1990. "The transactions trust demand for money," Journal of Economics, Springer, vol. 52(3), pages 211-232, October.
    2. Martin Shubik & Shuntian Yao, 1992. "Transactions Loans, Intertemporal Loans, Variable Velocity, the Rates of Interest and Commodity Money: Part 1. Transactions Loans," Cowles Foundation Discussion Papers 1014, Cowles Foundation for Research in Economics, Yale University.
    3. Martin Shubik & Shuntian Yao, 1988. "Gold, Liquidity and Secured Loans in a Multistage Economy. Part I: Gold as Money," Cowles Foundation Discussion Papers 871, Cowles Foundation for Research in Economics, Yale University.

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