Arbeitspapier
The tax-foundation theory of fiat money
A government can promote the use of an object as the general medium of exchange by accepting it in tax payments. I prove this old claim in a dynamic model and compare the mechanism to convertibility. The government can often keep its favourite money in circulation even while increasing its quantity and thus causing it to decrease in value. This opens the door for an inflationary policy. Most successful fiat moneys have been acceptable for tax payments, typically due to legal tender laws. Numerous historical failures of fiat moneys are consistent with the theory.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2009-05
- Klassifikation
-
Wirtschaft
- Thema
-
Papierwährung
Währungssystem
Vertragsrecht
Inflation
Dynamisches Modell
Geldtheorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Goldberg, Dror
- Ereignis
-
Veröffentlichung
- (wer)
-
Bar-Ilan University, Department of Economics
- (wo)
-
Ramat-Gan
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Goldberg, Dror
- Bar-Ilan University, Department of Economics
Entstanden
- 2009
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