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Erschienen in:
1987 | OriginalPaper | Buchkapitel
The denomination-specific demand for currency in a high-inflation setting: the Israeli experience
verfasst von : Charles F. Manski, Ephraim Goldin
Erschienen in: The Practice of Econometrics
Verlag: Springer Netherlands
Enthalten in: Professional Book Archive
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The denominational mix of currency in circulation is part of the fine structure of a monetary economy. Although Chen (1976) has argued that the denominational mix has macroeconomic consequences, the prevailing view seems to be that the combination of banknotes and coins of different nominal values into the aggregate termed currency is a convenient, relatively harmless analytical simplification. This is evidenced by the fact that the denominational mix is seldom discussed in the monetary literature.