English, Article, Journal or magazine article edition: A Walrasian Theory of Commodity Money: Paradoxical Results Xavier Cuadras

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Bookmark: http://trove.nla.gov.au/version/155220
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • A Walrasian Theory of Commodity Money: Paradoxical Results
Author
  • Xavier Cuadras
Physical Description
  • preprint
Notes
  • The objective of this note is to analyze some implications of the model of commodity money described in Banerjee and Maskin (1996) which may seem paradoxical. In order to do this, we incorporate a general production cost structure into the model. We focus on two different results. First, the existence of technologies that make counterfeiting a commodity more difficult may exclude it from being used as medium of exchange. Second, allocative distortions due to problems of asymmetric information may become larger in the presence of such technologies.
  • Money, lemons
  • RePEc:upf:upfgen:480
Language
  • English
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