CFDP 1814

The Demonetization of Gold: Transactions and the Change in Control

Author(s): 
Thomas QuintMartin Shubik

Publication Date: August 2011

Pages: 48

Abstract: 

Three models of a monetary economy are considered, in order to show the effects of a gold demonetization: the first with a gold money, the second with demonetized gold but no central bank, and the third with demonetized gold, but with a central bank. The distinctions between ownership and control are discussed.

Keywords: 

Gold demonetization, Gold backed paper, Reserves

JEL Classification Codes:  C72, E50, E58

See CFP: 1452

Note: 

Published in Annals of Finance (February 2015), 11(1): 109-149