Demand uncertainty and decentralization : a simple pure transaction model of money Public Deposited

Creator Series Issue number
  • 168
Date Created
  • 1981-08
  • 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.

Subject (JEL) Keyword Contributor Date Modified
  • 03/21/2018
  • Federal Reserve Bank of Minneapolis. Research Division.
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