MARC Record from Library of Congress

LEADER: 01856cam a22002897a 4500
001 2007702528
003 DLC
005 20130604092703.0
007 cr |||||||||||
008 071016s1980 mnu sb f000 0 eng
010 $a 2007702528
040 $aDLC$cDLC
050 00 $aHB1
100 1 $aWallace, Neil.
245 12 $aA hybrid fiat-commodity monetary system$h[electronic resource] /$cNeil Wallace.
260 $a[Minneapolis, Minn.] :$bFederal Reserve Bank of Minneapolis,$c[1980]
490 1 $aFederal Reserve Bank of Minneapolis, Research Department staff report ;$v#61
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 10/16/2007.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"In this paper I describe a "monetary" system in which backing is provided for the government's liabilities by way of contingent resort to taxes. The system has some of the features of a commodity money system with a large seignorage spread between bid and ask prices. It is studied within the context of a one-good, pure exchange model of two-period-lived overlapping generations in which, aside from various uniform boundedness assumptions, considerable diversity is allowed both within and across generations. Two results are established: (i) the existence of at least one perfect foresight competitive equilibrium, and (ii) the Pareto optimality of any such equilibrium"--Federal Reserve Bank of Minneapolis web site.
650 0 $aDebts, Public$xMathematical models.
650 0 $aTaxation$xMathematical models.
830 0 $aStaff report (Federal Reserve Bank of Minneapolis. Research Department : Online) ;$v61.
856 40 $uhttp://www.minneapolisfed.org/research/common/pub_detail.cfm?pb_autonum_id=342