Government Finance in a Model of Currency Substitution /
Our model is a variant of the cash-in-advance model. Goods must be purchased in the seller's currency, but currency may be traded before shopping at a cost. This cost is a measure of substitutability. The model is applied to seignorage taxation. We show that optimal money growth is positive and...
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| Format: | Tidsskrift |
| Sprog: | English |
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Washington, D.C. :
International Monetary Fund,
1993.
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| Serier: | IMF Working Papers; Working Paper ;
No. 1993/080 |
| Online adgang: | Full text available on IMF |