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dc.contributor.authorSeater, John J.en
dc.date.accessioned2009-01-28T15:05:19Z-
dc.date.available2009-01-28T15:05:19Z-
dc.date.issued2008-
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
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.relation.ispartofseries|aEconomics Discussion Papers |x2008-2en
dc.subject.jelE41en
dc.subject.jelE42en
dc.subject.jelE31en
dc.subject.ddc330en
dc.subject.keywordCurrency substitutionen
dc.subject.keywordDollarizationen
dc.titleThe Demand for Currency Substitution-
dc.typeWorking Paperen
dc.identifier.ppn558437273en
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.enen
dc.identifier.repecRePEc:zbw:ifwedp:6867en

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