The Transition from Barter to Fiat Money

How did it become possible to exchange apparently valueless pieces of paper for goods? This paper provides an equilibrium account of the transition between barter and fiat-money regimes. The explanation relies on the intervention of a self-interested government which must be able to promise credibly...

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Veröffentlicht in:	The American economic review 1995-03, Vol.85 (1), p.134-149
1. Verfasser:	Ritter, Joseph A.
Format:	Artikel
Sprache:	eng
Schlagworte:	Barter Bartering Currency Economic models Economics Equilibrium Fiat money Government Macroeconomics Monetary theory Money Money supply Nash equilibrium Paper money Payment systems Steady state economies Studies Transitional economies
Online-Zugang:	Volltext
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