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The Theory of Money

Martin Shubik

Working Papers from Santa Fe Institute

Abstract: The basic role of fiat money in a dynamic economy is considered. Its role as a virtual asset whose store of value properties are the outcome of the dynamics is explored and the role of the limits on the money supply and the bankruptcy laws in bounding prices are considered. The actions of the government may serve to bound individual expections.

Keywords: Agent-based computational economics; evolution of norms. (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mon
Date: 2000-03
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