A search-theoretic model of legal and illegal currency

Journal of Monetary Economics

Volumn 45, Issue 1, 2000, Pages 155-184

  Soller Curtis, Elisabeth ^a   Waller, Christopher J ^b  

^a DREXEL UNIVERSITY   (United States)

^b UNIVERSITY OF KENTUCKY   (United States)

Author keywords

Currency restrictions; E40; E42; Money; Search

Indexed keywords

EID: 0001824181     PISSN: 03043932     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0304-3932(99)00042-2     Document Type: Article

References (14)

1. Agenor, P., 1992, Parallel currency markets in developing countries: theory, evidence, and policy implications. Essays in International Finance, No. 188.
2. Barnett, R., 1999. A model of smuggling and black markets in foreign exchange. Unpublished manuscript, University of Arkansas.
3. Camera, G., 1998. Dirty money. Unpublished manuscript, Purdue University.
4. Chang R. Endogenous currency substitution, inflationary finance and welfare. Journal of Money, Credit and Banking. 26(4):1994;903-915.
5. Craig, B., Waller, C., 1999. Dual currency economies as multiple payment systems. Economic Review, Federal Reserve Bank of Cleveland, forthcoming.
6. Kimbrough K. Optimal taxation and inflation in an open economy. Journal of Economic Dynamics and Control. 15:1991;179-196.
7. Kiyotaki N., Wright R. On money as a medium of exchange. Journal of Political Economy. 97(4):1989;927-954.
8. Kiyotaki N., Wright R. A search-theoretic approach to monetary economics. The American Economic Review. 83(1):1993;63-77.
9. Li V. The optimal taxation of fiat money in search equilibrium. International Economic Review. 36:1995;927-942.
10. Pinto B. Black markets for foreign exchange, real exchange rates and inflation. Journal of International Economics. 30:1991;121-135.
11. Pitt M. Smuggling and the black market for foreign exchange. Journal of International Economics. 16:1984;243-257.
12. Shi S. Money and prices. a model of search and bargaining Journal of Economic Theory. 67:1995;467-496.
13. Trejos A., Wright R. Search, bargaining, money and prices. Journal of Political Economy. 103(1):1995;118-140.
14. Trejos A., Wright R. Search theoretic models of international currency. Federal Reserve Bank of St. Louis Review. 78:1996;117-132.