Silver and Gold and Liquidity

Martin Shubik

No 841, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: A simple model with trade in gold is explored where the cost of liquidity is measured in terms of utility foregone by using the gold as a money or means of payment rather than for utilitarian purposes. We close with remarks on the use of both silver and gold.

Pages: 8 pages
Date: 1987-06
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Citations: View citations in EconPapers (3)

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