Creator: Bryant, John B. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 168 Abstract:
A simple model of backed money without a store of value function is presented, discussed, and defended. The function of money in the model is to replace complex contingent contracts traded on a centralized exchange with simple trades in decentralized markets.
Keyword: Contracts, Commodity money, and Fiat money Subject (JEL): C10 - Econometric and statistical methods : General - General and E40 - Money and interest rates - General