Journal Article
The tale of Gresham's law
Abstract: Gresham?s law, which says that bad money tends to drive good money out of circulation, may account for many nations? episodes of money troubles, as far back as ancient Athens. This Commentary discusses the two main explanations for Gresham?s law and suggests some circumstances in which the law does not apply.
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 2005
Issue: Oct
Order Number: 1