What is Old id New Again
AbstractFormal 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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Bibliographic InfoPaper provided by University of Western Ontario, Department of Economics in its series UWO Department of Economics Working Papers with number 9501.
Length: 21 pages
Date of creation: 1995
Date of revision:
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Postal: Department of Economics, Reference Centre, Social Science Centre, University of Western Ontario, London, Ontario, Canada N6A 5C2
Phone: 519-661-2111 Ext.85244
Web page: http://economics.uwo.ca/research/research_papers/department_working_papers.html
money ; economic theory;
Other versions of this item:
- Gravelle, Toni, 1996. "What Is Old Is New Again," The Manchester School of Economic & Social Studies, University of Manchester, vol. 64(4), pages 388-404, December.
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- Laidler, David, 1999. "The Quantity of Money and Monetary Policy," Working Papers 99-5, Bank of Canada.
- Giancarlo Bertocco, 2005.
"The Role of credit in a Keynesian monetary economy,"
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- Bertocco Giancarlo, 2002. "The role of credit in a Keynesian monetary economy," Economics and Quantitative Methods qf0222, Department of Economics, University of Insubria.
- Giancarlo Bertocco, 2007.
"The characteristics of a monetary economy: a Keynes--Schumpeter approach,"
Cambridge Journal of Economics,
Oxford University Press, vol. 31(1), pages 101-122, January.
- Bertocco Giancarlo, 2003. "The characteristics of a monetary economy: a Keynes-Schumpeter approach," Economics and Quantitative Methods qf0311, Department of Economics, University of Insubria.
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