Currency substitution and financial innovation.: An article from: Journal of Money, Credit & Banking

This digital document is an article from Journal of Money, Credit & Banking, published by Ohio State University Press on February 1, 1993. The length of the article is 7830 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: This paper explores the domestic effects, as well as the international transmission, of financial innovation. The analysis is carried out in a cash-in-advance model with two currencies and two goods, in which income velocity is variable because of inventory-type considerations in the determination of the demand for money. The discussion emphasizes the role of currency substitution, which occurs through the interaction between the two monies in affecting the total amount of time devoted to transaction activities. The role of cross-border transfers of seigniorage in determining the general equilibrium effects of financial innovation is discussed. (Printed by permission of the publisher.)

Citation Details
Title: Currency substitution and financial innovation.
Author: Pablo E. Guidotti
Publication:Journal of Money, Credit & Banking (Refereed)
Date: February 1, 1993
Publisher: Ohio State University Press
Volume: v25 Issue: n1 Page: p109(16)

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