Document Type
Discussion Paper
Publication Date
6-1-1987
CFDP Number
841
CFDP Pages
8
Abstract
A simple model with trade in gold is explored where the cost of liquidity is measured in terms of utility foregone by using the gold as a money or means of payment rather than for utilitarian purposes. We close with remarks on the use of both silver and gold.
Recommended Citation
Shubik, Martin, "Silver and Gold and Liquidity" (1987). Cowles Foundation Discussion Papers. 1084.
https://elischolar.library.yale.edu/cowles-discussion-paper-series/1084