Why stable fiat money hyperinflates: Results from an experimental economy

Experiments are used to study acceptance of a fiat money as a medium of exchange. In these finite horizon markets, people trade valuable goods for intrinsically worthless money. However, when a public sector capable of printing money is introduced, the private sector is crowded out, producing dramat...

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Veröffentlicht in:	Journal of economic behavior & organization 2006-11, Vol.61 (3), p.471-486
Hauptverfasser:	Deck, Cary A., McCabe, Kevin A., Porter, David P.
Format:	Artikel
Sprache:	eng
Schlagworte:	Experimental economics Fiat money Hyperinflation Inflation Mathematical methods Monetary economics Monetary theory Money supply Public sector Quantity theory of money Studies
Online-Zugang:	Volltext
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