Moneychangers and Commodity Money

Vincent Bignon and Richard Dutu

No 2006-9, EconomiX Working Papers from University of Paris Nanterre, EconomiX

Abstract: We study the role played by coin experts, called moneychangers, in the metallic money system. To do that, we introduce intermediaries that can expertise and certify coins into the VeldeWeber and Wright’s (1999) model of commodity money with imperfectly recognizable coins. We show under which conditions buyers have their coins certified, how circulation by weight and circulation by tale equilibria are affected by moneychangers, and whether moneychangers increase welfare.

Keywords: Commodity money; Search; Information; Moneychangers. (search for similar items in EconPapers)
JEL-codes: D82 E42 N23 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2006
New Economics Papers: this item is included in nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://economix.fr/pdf/dt/2006/WP_EcoX_2006-9.pdf (application/pdf)

Related works:
Working Paper: Moneychangers and Commodity Money (2006)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:drm:wpaper:2006-9

Access Statistics for this paper

More papers in EconomiX Working Papers from University of Paris Nanterre, EconomiX Contact information at EDIRC.
Bibliographic data for series maintained by Valerie Mignon ( this e-mail address is bad, please contact ).