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dc.contributor.authorSeater, John J.en_US
dc.date.accessioned2009-01-28T15:05:19Z-
dc.date.available2009-01-28T15:05:19Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/17974-
dc.description.abstractA transactions model of the demand for multiple media of exchange is developed. Some results are expected, and others are both new and surprising. There are both extensive and intensive margins to currency substitution, and inflation may affect the two margins differently, leading to subtle incentives to adopt or abandon a substitute currency. Variables not previously considered in the literature affect currency substitution in complex and somewhat unexpected ways. In particular, the level of income and the composition of consumption expenditures are important, and they interact with the other variables in the model. Independent empirical work provides support for the theory.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kiel-
dc.relation.ispartofseriesEconomics Discussion Papers / Institut für Weltwirtschaft 2008-2en_US
dc.subject.jelE41en_US
dc.subject.jelE42en_US
dc.subject.jelE31en_US
dc.subject.ddc330en_US
dc.subject.keywordCurrency substitutionen_US
dc.subject.keywordDollarizationen_US
dc.titleThe Demand for Currency Substitutionen_US
dc.typeWorking Paperen_US
dc.identifier.ppn558437273en_US
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.en-
dc.identifier.repecRePEc:zbw:ifwedp:6867-
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers

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