Commodity and Token Monies
Bibliographic Data
| ID | 9720699 |
|---|---|
| Authors | Thomas J Sargent (0000-0002-5457-0944, New York University, corresponding author) |
| Year | 2019 |
| Volume | 129 |
| Issue | 619 |
| Pages | 1457-1476 |
| Publication date | 2019-04-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/ecoj.12587 |
| OpenAlex | W2792432147 |
| Language | EN |
| Citations received | 1 |
| References cited | 17 |
A government defines a dollar as a list of quantities of one or more precious metals. If issued in limited amounts, token money is a perfect substitute for precious metal money. Atemporal equilibrium conditions determine how quantities of precious metals and token monies affect an equilibrium price level. Within limits, a government can peg the relative price of two precious metals, confirming Fisher's (1911) response to a classic criticism of bimetallism. Monometallism dominates bimetallism according to a natural welfare criterion
Commerce · Commodity · Computer security · Economics · Government (linguistics · Liberian dollar · Metal · Microeconomics · Monetary economics · Precious metal · Security token · Chemistry · Computer Science · Economic theories and models · Finance
The Big Problem of Small Change
An Inquiry into the Nature and Causes of the Wealth of Nations
Public Debts
Commodity-Reserve Currency
The Crime of 1873
A Model of Bimetallism
Money and the Price Level Under the Gold Standard
The Purchasing Power of Money
A Monetary History of the United States, 1867-1960
On Testing for Speculative Bubbles
Bimetallism Revisited
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,33 |
| Citation span | 2023 - 2023 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |