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The coexistence of commodity money and fiat money

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  • Olivier Ledoit
  • Sébastien Lotz

Abstract

In reaction to the monetary turmoil created by the financial crisis of September 2008, both legislative and constitutional reforms have been proposed in different Countries to introduce Commodity Money longside existing National Fiat Currency. A thorough evaluation of the Economic consequences of these new proposals is warranted. This paper surveys some of the existing knowledge in Monetary and Financial Economics for the purpose of answering the significant Economic questions raised by these new political initiatives.

Suggested Citation

  • Olivier Ledoit & Sébastien Lotz, 2011. "The coexistence of commodity money and fiat money," ECON - Working Papers 024, Department of Economics - University of Zurich.
  • Handle: RePEc:zur:econwp:024
    as

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    File URL: http://www.econ.uzh.ch/static/wp/econwp024.pdf
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    References listed on IDEAS

    as
    1. Dirk G. Baur & Brian M. Lucey, 2010. "Is Gold a Hedge or a Safe Haven? An Analysis of Stocks, Bonds and Gold," The Financial Review, Eastern Finance Association, vol. 45(2), pages 217-229, May.
    2. Baur, Dirk G. & McDermott, Thomas K., 2010. "Is gold a safe haven? International evidence," Journal of Banking & Finance, Elsevier, vol. 34(8), pages 1886-1898, August.
    3. Camera, Gabriele & Craig, Ben & Waller, Christopher J., 2004. "Currency competition in a fundamental model of money," Journal of International Economics, Elsevier, vol. 64(2), pages 521-544, December.
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. About a (partial) return to the gold standard
      by Economic Logician in Economic Logic on 2011-10-04 19:22:00

    More about this item

    Keywords

    Currency competition; commodity money; fiat money; gold; safe haven; search models;

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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    1. Economic Logic blog

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