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National Money of Account, with a Second national Money or Local Monies as Means of Payment: A Way of Finessing the Zero interest Rate Bound.

Stephen Jarratt Davies

Kobe Economic and Business Review2004article
ABDC C
Weight
0.26

What the paper says

This paper shows how negative interest rates can be implemented \ at much less cost than under alternative proposals \ by separation of the account and means of payment roles of money \ i.e. by having these roles performed by different moneys. Such separation has been far from unusual in history, however unnatural it may seem to those whose experience is of model non-separated monetary systems. One possibility discussed is that the means of payment role of cash could be provided by local currencies rather than a national currency.

Cite this paper

@article{stephen2004,
  title        = {{National Money of Account, with a Second national Money or Local Monies as Means of Payment: A Way of Finessing the Zero interest Rate Bound.}},
  author       = {Stephen Jarratt Davies},
  journal      = {Kobe Economic and Business Review},
  year         = {2004},
}

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National Money of Account, with a Second national Money or Local Monies as Means of Payment: A Way of Finessing the Zero interest Rate Bound.

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Evidence weight

0.26

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.00 × 0.4 = 0.00
M · momentum0.20 × 0.15 = 0.03
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.