; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Gresham's Law in a Lemons Market"; ; "batchuser@example.com"; "Aiyagari, S. Rao"; "Federal Reserve Bank of Minneapolis"; "Consumption", "Transactions", "Asset quality", "Gresham's Law"; "E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems"; "We describe a simple environment in which assets of varying qualities may be used for transactions and consumption. The quality of an asset is known to the seller but not the buyer. We show that this feature can generate a negative relationship between the transactions velocities of assets and their rates of return. We also discuss several versions of Gresham's Law which hold in this environment."^^; "1987-10"; "2018-03-13T20:49:45.103309213+00:00"^^; "https://doi.org/10.21034/wp.376"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "2020-04-28T15:39:55.920986244+00:00"^^; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "7"; "Working paper (Federal Reserve Bank of Minneapolis. Research Department)"; "376"; "Transactions", "Asset quality", "Gresham's Law", "Consumption"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; ; "Publication" . ; .