The emergence of fiat money: a reconsideration

Article Abstract:

Paper money, also known as fiat money, did not as is often proposed emerge directly from barter. A more accurate view is that barter gave rise to commodity money which in turn produced convertible paper currency whose convertibility, once ended by government fiat, creates a fiat currency.

Economic aspects, Economic research, Paper money, Barter

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Does monetary policy have a future?

Article Abstract:

The effect a falling demand for central bank money will have on monetary policy are examined. Topics include an argument that demand will fall due to electronic payments and new settlement systems; implications for price-level instability in a climate of decreasing demand for central bank money; and options for a government response policy involving regulation, competition, or abandonment of discretionary monetary policy.

World, Central banks

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Does asymmetric information justify bank capital adequacy regulation?

Article Abstract:

An argument is presented in favor of capital adequacy regulation. It is posited that economic justifications are not as compelling as the need to counter any moral hazard created by the regulatory agencies themselves.

Capital

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