New models of old(?) payment questions
Data(s) |
13/05/2008
13/05/2008
01/09/2006
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Resumo |
Is private money feasible and desirable? In its absence, is there a central bank policy that partially or fully substitutes for private money? In this paper, some recent modeling ideas about how to address these questioned are reviewed and applied. The main ideas are that people cannot commit to future actions and that their histories are to some extent unknown - are not common knowledge. Under the additional assumption that the private monies issued by diferent people are distinct, a strong recognizability assumption, it is shown that there is a role for private money. |
Identificador |
01048910 |
Idioma(s) |
en_US |
Publicador |
Escola de Pós-Graduação em Economia da FGV |
Relação |
Ensaios Econômicos;619 |
Palavras-Chave | #Inside money #Discount-window policy #Mechanism design #Economia #Política monetária #Bancos centrais #Moeda #Créditos |
Tipo |
Working Paper |