Dual-currency economies as multiple-payment systems

Ben Craig and Christopher Waller

Economic Review, 2000, issue Q I, 2-13

Abstract: Monetary search models are valuable for studying how a second currency's acceptability arises endogenously in an economy that lacks a stable domestic currency and other more sophisticated payment systems. Search models' basic assumptions (absence of credit, lack of smoothly functioning banking systems, reliance on currency as the sole medium of exchange, and primitive trading environments) are not necessarily consistent with modern financial systems. They do, however, provide good descriptions of transitional and developing economies, particularly in the countries of the former Soviet Union, and may yield helpful policy prescriptions.

Date: 2000
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (27)

Downloads: (external link)
http://www.clevelandfed.org/Research/review/2000/dualcur5.pdf (text/html)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.clevelandfed.org/Research/review/2000/dualcur5.pdf [301 Moved Permanently]--> https://www.clevelandfed.org/Research/review/2000/dualcur5.pdf [301 Moved Permanently]--> https://www.clevelandfed.org/research/review/2000/dualcur5.pdf)
https://fraser.stlouisfed.org/scribd/?toc_id=27244 ... t_page=4#scribd-open

Related works:
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:fip:fedcer:y:2000:i:qi:p:2-13

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in Economic Review from Federal Reserve Bank of Cleveland Contact information at EDIRC.
Bibliographic data for series maintained by 4D Library ().