مشخصات مقاله | |
ترجمه عنوان مقاله | آیا رقابت ارز می تواند کاری کند؟ |
عنوان انگلیسی مقاله | Can currency competition work? |
انتشار | مقاله سال 2019 |
تعداد صفحات مقاله انگلیسی | 15 صفحه |
هزینه | دانلود مقاله انگلیسی رایگان میباشد. |
پایگاه داده | نشریه الزویر |
نوع نگارش مقاله |
مقاله پژوهشی (Research Article) |
مقاله بیس | این مقاله بیس نمیباشد |
نمایه (index) | Scopus – Master Journals List – JCR |
نوع مقاله | ISI |
فرمت مقاله انگلیسی | |
ایمپکت فاکتور(IF) |
2.822 در سال 2018 |
شاخص H_index | 112 در سال 2019 |
شاخص SJR | 7.248 در سال 2018 |
شناسه ISSN | 0304-3932 |
شاخص Quartile (چارک) | Q1 در سال 2018 |
مدل مفهومی | ندارد |
پرسشنامه | ندارد |
متغیر | ندارد |
رفرنس | دارد |
رشته های مرتبط | اقتصاد |
گرایش های مرتبط | اقتصاد مالی، اقتصاد پولی، اقتصاد پول و بانکداری |
نوع ارائه مقاله |
ژورنال |
مجله | مجله اقتصاد پولی – Journal Of Monetary Economics |
دانشگاه | Department of Economics, TheRonald O. Perelman Center for Political Science and Economics, University of Pennsylvania, NBER, and CEPR, 133 South 36th Street, Suite 150, Philadelphia, PA 19104, USA |
کلمات کلیدی | پول خصوصی، رقابت ارزی، ارزهای رمزنگاری شده |
کلمات کلیدی انگلیسی | Private money، Currency competition، Cryptocurrencies |
شناسه دیجیتال – doi |
https://doi.org/10.1016/j.jmoneco.2019.07.003 |
کد محصول | E12872 |
وضعیت ترجمه مقاله | ترجمه آماده این مقاله موجود نمیباشد. میتوانید از طریق دکمه پایین سفارش دهید. |
دانلود رایگان مقاله | دانلود رایگان مقاله انگلیسی |
سفارش ترجمه این مقاله | سفارش ترجمه این مقاله |
فهرست مطالب مقاله: |
Abstract
1- Introduction 2- Model 3- Competitive money supply 4- Limited supply 5- Monetary policy 6- Automata 7- Productive capital 8- Conclusions References |
بخشی از متن مقاله: |
Abstract Can competition among privately-issued fiat currencies work? Only sometimes and partially. To show this, we build a model of competition among privately-issued fiat currencies. A purely private arrangement fails to implement an efficient allocation, even though it can deliver price stability under certain technological conditions. Although currency competition creates problems for monetary policy, it is possible to design a policy rule that uniquely implements an efficient allocation. Introduction Can competition among privately-issued fiduciary currencies work? The appearance of Bitcoin, Ethereum, Libra, and other cryptocurrencies has triggered a wave of interest in privately-issued monies. A similar interest in the topic has not been seen since the polemics associated with the demise of free banking in the English-speaking world in the middle of the 19th century. Somewhat surprisingly, this interest has not translated, so far, into much research within monetary economics. This situation is unfortunate. Without a theoretical understanding of how currency competition works, we cannot answer a long list of positive and normative questions. Among the positive questions: Will a system of private money deliver price stability? Will one currency drive all others from the market? Or will several of these currencies coexist along the equilibrium path? Do private monies require a commodity backing? Will the market provide the socially optimum amount of money? Can private monies and a government-issued money compete? Can a unit of account be separated from a medium of exchange? Among the normative questions: Should governments prevent the circulation of private monies? Should governments treat private monies as currencies or as any other regular property? Should the private monies be taxed? |