Zobrazeno 1 - 10
of 19
pro vyhledávání: '"Bruce A. Smith"'
Autor:
Bruce D. Smith
Publikováno v:
Quarterly Review. 26
This article argues that the quantity theory of money is not supported by the evidence. Contrary to the quantity theory, the article says, the value of money depends primarily on how carefully it is backed. That is, the rate of inflation depends more
Autor:
Bruce D. Smith, Warren E. Weber
Recent legislation has removed U.S. legal impediments to issuing private bank notes. At the same time, improved transaction technologies have enabled banks and other entities to issue various forms of "e-cash." Consequently, developed economies may s
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::882efc77f97c768f4edb9cfdcebe23db
https://doi.org/10.21034/wp.591
https://doi.org/10.21034/wp.591
The classic example of a privately created and well-functioning interbank payments system is the Suffolk Banking System that existed in New England between 1825 and 1858. This System, operated by the Suffolk Bank, was the first regionwide net-clearin
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::ef7a47f1e93b3dab7e51bccc2e0a0cdf
https://doi.org/10.21034/wp.584
https://doi.org/10.21034/wp.584
Autor:
Bruce D. Smith, Cheng Wang
We consider the problem of an insurer who enters into a repeated relationship with a set of risk averse agents in the presence of ex post verification costs. The insurer wishes to minimize the expected cost of providing these agents a certain expecte
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::a31df40208235eb05c8ea4a392d2651b
https://doi.org/10.21034/wp.574
https://doi.org/10.21034/wp.574
Autor:
John H. Boyd, Bruce D. Smith
The authors investigate ex ante efficient contracts in an environment in which implementation is costless. In this environment, standard debt contracts will typically not be optimal. Optimal contracts may involve defaults even in states in which the
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::1cad23ff0ff783c5c848e0711cafaa2d
https://doi.org/10.21034/wp.512
https://doi.org/10.21034/wp.512