| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4063 |
| DP4063 Welfare Implications of User Innovation | |
| Joachim Henkel; Eric von Hippel | |
| 发表日期 | 2003-09-23 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | We study how competition from privately-supplied currency substitutes affects monetary equilibria. Whenever currency is inefficiently provided, inside money competition plays a disciplinary role by providing an upper bound on equilibrium inflation rates. Furthermore, if ?inside monies? can be produced at a sufficiently low cost, outside money is driven out of circulation. Whenever a ?benevolent? government can commit to its fiscal policy, sequential monetary policy is efficient and inside money competition plays no role. |
| 主题 | International Macroeconomics |
| 关键词 | Electronic money Inside money Currency competition Reputation inflation |
| URL | https://cepr.org/publications/dp4063 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533039 |
| 推荐引用方式 GB/T 7714 | Joachim Henkel,Eric von Hippel. DP4063 Welfare Implications of User Innovation. 2003. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
