The Demonetization of Gold: Transactions and the Change in Control

49 Pages Posted: 1 Aug 2011

See all articles by Thomas Quint

Thomas Quint

University of Nevada-Reno, Department of Mathematics

Martin Shubik

Yale University - School of Management; Yale University - Cowles Foundation

Date Written: August 1, 2011

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: C72, E50, E58

Suggested Citation

Quint, Thomas and Shubik, Martin, The Demonetization of Gold: Transactions and the Change in Control (August 1, 2011). Cowles Foundation Discussion Paper No. 1814, Available at SSRN: https://ssrn.com/abstract=1899595 or http://dx.doi.org/10.2139/ssrn.1899595

Thomas Quint

University of Nevada-Reno, Department of Mathematics ( email )

1664 North Virginia
Reno, NV 89557
United States
775-784-1366 (Phone)
775-784-6378 (Fax)

Martin Shubik (Contact Author)

Yale University - School of Management ( email )

Box 208200
New Haven, CT 06520-8200
United States

Yale University - Cowles Foundation ( email )

Box 208281
New Haven, CT 06520-8281
United States
203-432-3694 (Phone)
203-432-6167 (Fax)

HOME PAGE: http://cowles.econ.yale.edu/P/au/d_shubik.htm

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