Please use this identifier to cite or link to this item:
https://hdl.handle.net/2440/72440
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Full metadata record
DC Field | Value | Language |
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dc.contributor.author | Rogers, C. | - |
dc.date.issued | 2011 | - |
dc.identifier.citation | Journal of Money, Credit and Banking, 2011; 43(2-3):553-563 | - |
dc.identifier.issn | 0022-2879 | - |
dc.identifier.issn | 1538-4616 | - |
dc.identifier.uri | http://hdl.handle.net/2440/72440 | - |
dc.description.abstract | Woodford claims to present a cashless and frictionless model of the channel system of interest rate control. This note explains why Woodford’s frictionless model omits an essential feature of channel systems: the need for clearing e-cash balances at the central bank. Without the existence of some form of final settlement on the books of the central bank channel systems collapse. Woodford makes this conceptual error because he assumes that moneyless accounting systems of exchange can be applied to model e-cash economies. | - |
dc.description.statementofresponsibility | Colin Rogers | - |
dc.language.iso | en | - |
dc.publisher | Ohio State Univ Press | - |
dc.rights | © 2011 The Ohio State University | - |
dc.source.uri | http://dx.doi.org/10.1111/j.1538-4616.2010.00385.x | - |
dc.subject | Cashless | - |
dc.subject | frictionless | - |
dc.subject | e-cash | - |
dc.subject | accounting systems of exchange | - |
dc.subject | channel system | - |
dc.title | The failure of Woodford's model of the channel system in the cashless economy | - |
dc.type | Journal article | - |
dc.identifier.doi | 10.1111/j.1538-4616.2010.00385.x | - |
pubs.publication-status | Published | - |
Appears in Collections: | Aurora harvest Economics publications |
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RA_hdl_72440.pdf Restricted Access | Restricted Access | 76.59 kB | Adobe PDF | View/Open |
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