On Measuring the Costs and Benefits of Eliminating Currency
On February 26, 2018 at 4:15 pm in Pettengill G21, “On Measuring the Costs and Benefits of Eliminating Currency: A Preliminary Analysis” was presented by Rob Lester, Assistant Professor of Economics from Colby College. A paper that was coauthored with Julio Garin (Claremont McKenna College) and William Lastrapes (University of Georgia).
Talk Description: While currency makes everyday transactions easier, it also facilitates tax evasion and is the oxygen for the “underground” economy which, in many countries, is the only source of income for millions of people. What are the costs and benefits to reducing, or even completely eliminating, currency? We investigate this question within the context of a relatively standard macroeconomic model.
Sponsored by The Casey Lecture Fund for Economics