COWLES FOUNDATION FOR RESEARCH IN
ECONOMICS Box 208281
COWLES FOUNDATION DISCUSSION PAPER NO. 1814 The Demonetization of Gold: Transactions and the Change in Control Thomas Quint and Martin Shubik August 2011 Three models of a monetary economy are considered, in order to show the
effects of a gold demonetization: the first with a gold money, the second with demonetized
gold but no central bank, and the third with demonetized gold, but with a central bank.
The distinctions between ownership and control are discussed. |
