On the benefits of currency reform
Money allows agents to achieve allocations that are not possible without it. However, currency in most economies is a uniform object, and there may be incentive compatible allocations that cannot be implemented with a uniform currency. We show that currency reform, i.e., changing the monetary base b...
Main Authors: | Krishna, R.V (Author), Leukhina, O. (Author) |
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Format: | Article |
Language: | English |
Published: |
Elsevier B.V.
2019
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Subjects: | |
Online Access: | View Fulltext in Publisher |
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