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The Demonetization of Gold: Transactions and the Change in Control

Thomas Quint and Martin Shubik
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Thomas Quint: Dept. of Mathematics, University of Nevada, Reno

No 1814, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: Three models of a monetary economy are considered, in order to show the effects of a gold demonetization: the first with a gold money, the second with demonetized gold but no central bank, and the third with demonetized gold, but with a central bank. The distinctions between ownership and control are discussed.

Keywords: Gold demonetization; Gold backed paper; Reserves (search for similar items in EconPapers)
JEL-codes: C72 E50 E58 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba and nep-mon
Date: 2011-08
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Journal Article: The demonetization of gold: transactions and the change in control (2015) Downloads
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