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: Commodity money, Contracts, and Fiat money Subject (JEL): E40 - Money and Interest Rates: General and C10 - Econometric and Statistical Methods and Methodology: General