| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20126 |
| 来源ID | Working Paper 20126 |
| Costs and Benefits to Phasing Out Paper Currency | |
| Kenneth S. Rogoff | |
| 发表日期 | 2014-05-15 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | Despite advances in transactions technologies, paper currency still constitutes a notable percentage of the money supply in most countries. For example, it constitutes roughly 10% of the US Federal Reserve's main monetary aggregate, M2. Yet, it has important drawbacks. First, it can help facilitate activity in the underground (tax-evading) and illegal economy. Second, its existence creates the artifact of the zero bound on the nominal interest rate. On the other hand, the enduring popularity of paper currency generates many benefits, including substantial seigniorage revenue. This paper explores some of the issues associated with phasing out paper currency, especially large-denomination notes. |
| 主题 | Macroeconomics ; Money and Interest Rates ; Monetary Policy |
| URL | https://www.nber.org/papers/w20126 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/577800 |
| 推荐引用方式 GB/T 7714 | Kenneth S. Rogoff. Costs and Benefits to Phasing Out Paper Currency. 2014. |
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