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On trade vouchers called “local money”

Author

Listed:
  • István Nándor Helmeczi

    () (Magyar Nemzeti Bank (central bank of Hungary))

  • Gergely Kóczán

    () (Magyar Nemzeti Bank (central bank of Hungary))

Abstract

There is a lot of debate currently about local monies: the “soproni kékfrankos” (Sopron blue franc), the “rábaközi tallér” (Rába District thaler), the “pécsi korona” (Pécs crown), the “debreceni fantallér” (Debrecen fanthaler) and the “veszprémi korona” (Veszprém crown), all initiatives having been launched recently. Despite the insignificance of local monies on the basis of international experience, local consumers (companies and households alike) may have encountered such instruments every now and then in the recent past. In view of increasing media coverage of the issue, we deemed it timely and necessary to reveal the key facts about these initiatives, and what trade vouchers – commonly known as “local money” – actually are.

Suggested Citation

  • István Nándor Helmeczi & Gergely Kóczán, 2011. "On trade vouchers called “local money”," MNB Bulletin (discontinued), Magyar Nemzeti Bank (Central Bank of Hungary), vol. 6(1), pages 30-43, April.
  • Handle: RePEc:mnb:bullet:v:6:y:2011:i:1:p:30-43
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    File URL: http://www.mnb.hu/letoltes/helmeczi-koczan-eng.pdf
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    More about this item

    Keywords

    vouchers; local money; local currency.;

    JEL classification:

    • R19 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Other

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