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Dirty money

delete2001-04-01
delete13
PRE
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G
Gabriele Camera
DOI:10.1016/S0304-3932(01)00043-5delete
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摘要

摘要

En 中文
An inter-governmental body is encouraging the replacement of currency with the objective of discouraging illegal economic activities. This policy is analyzed in a search-theoretic model where individuals choose legal or illegal production, settle trades via monetary or costly intermediated exchange, and where the government imperfectly monitors monetary transactions. Stationary monetary equilibria with both legal and illegal productions exist, in which case the over-provision of currency may increment the extent of illegal production. This result holds also in the presence of intermediated exchange of legal goods. Equilibria with differing transaction patterns and degrees of illicit activities coexist. (C) 2001 Elsevier Science B.V. All rights reserved.
Keyword:
search
money
illegal activities
underground economy
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期刊

Journal of Monetary Economics 封面图
Journal of Monetary Economics
IF:
4.1
论文数:
3.2K
被引数:
1.1W

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