Title

Silver and Gold and Liquidity

Authors

Martin Shubik

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.

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