Crowding Out in a Dual Currency Regime? Digital Versus Fiat Currency

【Author】 Hong, KiHoon; Park, Kyounghoon; Yu, Jongmin

【Source】EMERGING MARKETS FINANCE AND TRADE

【影响因子】4.859

【Abstract】In this article, we analyze a dual currency regime with fiat currency and digital currency and investigate potential crowding-out effects of fiat currency or digital currency under the framework of the traditional monetary economic model. We find that crowding out occurs only under extreme assumptions, i.e., extremely high costs associated with the use (medium of exchange and store of value) of one currency and extremely low costs associated with the use of the other currency.

【Keywords】Bitcoin; crowding out; digital currency; dual currency

【发表时间】2018

【收录时间】2022-01-02

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