The Demonetization of Gold: Transactions and the Change in Control
49 Pages Posted: 1 Aug 2011
Date Written: August 1, 2011
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: Suggested Citation