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The competitive provision of fiat money

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  • John Bryant

Abstract

Herein, it is demonstrated that the competitive provision of fiat money is generically either inefficient or infeasible.

Suggested Citation

  • John Bryant, 1980. "The competitive provision of fiat money," Staff Report 48, Federal Reserve Bank of Minneapolis.
    • Handle: RePEc:fip:fedmsr:48
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    References listed on IDEAS

    as
    1. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66, pages 467-467.
    2. Bryant, John & Wallace, Neil, 1980. "Open-Market Operations in a Model of Regulated, Insured Intermediaries," Journal of Political Economy, University of Chicago Press, vol. 88(1), pages 146-173, February.
    3. Klein, Benjamin, 1974. "The Competitive Supply of Money," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 6(4), pages 423-453, November.
    4. Bryant, John & Wallace, Neil, 1979. "The Inefficiency of Interest-bearing National Debt," Journal of Political Economy, University of Chicago Press, vol. 87(2), pages 365-381, April.
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