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Separation of Unit of Account from Medium of Exchange
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| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Kim, Young Sik | - |
| dc.contributor.author | Lee, Manjong | - |
| dc.date.accessioned | 2021-09-05T18:31:29Z | - |
| dc.date.available | 2021-09-05T18:31:29Z | - |
| dc.date.created | 2021-06-15 | - |
| dc.date.issued | 2013-12 | - |
| dc.identifier.issn | 0022-2879 | - |
| dc.identifier.uri | https://scholar.korea.ac.kr/handle/2021.sw.korea/101503 | - |
| dc.description.abstract | The separation of a unit of account (UoA) from a medium of exchange (MoE) in the commodity-money system is investigated by considering explicitly a seller's choice of UoA in terms of either an MoE or a unit of metal weight. If the likelihood of debasement of an MoE and its rate are high enough, the price is posted in terms of a unit of metal weight rather than an MoE. Interestingly, this MoE-UoA separated equilibrium yields the flexible nominal price, whereas an MoE-UoA integrated equilibrium yields the sticky one. This implies the nominal price rigidity in the fiat-money system where MoE and UoA are integrated. | - |
| dc.language | English | - |
| dc.language.iso | en | - |
| dc.publisher | WILEY | - |
| dc.subject | COMMODITY MONEY | - |
| dc.subject | LAW | - |
| dc.subject | SYSTEMS | - |
| dc.subject | TRADE | - |
| dc.title | Separation of Unit of Account from Medium of Exchange | - |
| dc.type | Article | - |
| dc.contributor.affiliatedAuthor | Lee, Manjong | - |
| dc.identifier.doi | 10.1111/jmcb.12066 | - |
| dc.identifier.scopusid | 2-s2.0-84888118932 | - |
| dc.identifier.wosid | 000327223200008 | - |
| dc.identifier.bibliographicCitation | JOURNAL OF MONEY CREDIT AND BANKING, v.45, no.8, pp.1685 - 1703 | - |
| dc.relation.isPartOf | JOURNAL OF MONEY CREDIT AND BANKING | - |
| dc.citation.title | JOURNAL OF MONEY CREDIT AND BANKING | - |
| dc.citation.volume | 45 | - |
| dc.citation.number | 8 | - |
| dc.citation.startPage | 1685 | - |
| dc.citation.endPage | 1703 | - |
| dc.type.rims | ART | - |
| dc.type.docType | Article | - |
| dc.description.journalClass | 1 | - |
| dc.description.journalRegisteredClass | ssci | - |
| dc.description.journalRegisteredClass | scopus | - |
| dc.relation.journalResearchArea | Business & Economics | - |
| dc.relation.journalWebOfScienceCategory | Business, Finance | - |
| dc.relation.journalWebOfScienceCategory | Economics | - |
| dc.subject.keywordPlus | COMMODITY MONEY | - |
| dc.subject.keywordPlus | LAW | - |
| dc.subject.keywordPlus | SYSTEMS | - |
| dc.subject.keywordPlus | TRADE | - |
| dc.subject.keywordAuthor | E31 | - |
| dc.subject.keywordAuthor | E42 | - |
| dc.subject.keywordAuthor | F33 | - |
| dc.subject.keywordAuthor | debasement | - |
| dc.subject.keywordAuthor | medium of exchange | - |
| dc.subject.keywordAuthor | unit of account | - |
| dc.subject.keywordAuthor | nominal price rigidity | - |
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