Creator: Bryant, John B. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) 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: Fiat money, Commodity money, and Contracts Subject (JEL): C10 - Econometric and Statistical Methods and Methodology: General and E40 - Money and Interest Rates: General