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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| Formato: | Periódico |
| Idioma: | English |
| Publicado em: |
Washington, D.C. :
International Monetary Fund,
1993.
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| Colecção: | IMF Working Papers; Working Paper ;
No. 1993/080 |
| Acesso em linha: | Full text available on IMF |