Inflation and dollarization in a dual-currency search-theoretic model

被引：0
|
作者：
Chang, Sanders S. [1 ]
机构：
[1] Michigan State Univ, Dept Econ, E Lansing, MI 48824 USA
来源：
ECONOMICS LETTERS | 2006年 / 92卷 / 03期
关键词：
money; search; inflation; dollarization;
D O I：
10.1016/j.econlet.2006.03.017
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We examine the effect of an inflation tax in a dual-currency economy, where a weak domestic currency circulates alongside a strong foreign currency. We show that in a domestic hyperinflation, the foreign currency actually loses value but becomes the dominant medium of exchange. (c) 2006 Elsevier B.V All rights reserved.
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页码：353 / 359
页数：7
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