Some Notes on the Gresham's Law of Money Circulation

Sparavigna, Amelia Carolina

doi:10.18483/ijsci.417

Cited by 5 publications

(1 citation statement)

References 7 publications

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“…There are several money theories such as quantity theory of money, monetary theory, and theory of money demand, but Gresham's law of the monetary systems was the most relevant and applicable theory for this paper. Gresham's law of the monetary systems is an economic principle and one of the laws governing the circulation of money, and it was named after an English merchant and financier, of the Tudor dynasty, Sir Thomas Gresham (1519-1579) (Sparavigna, 2014). According to Sullivan (2005), Gresham's law states that when bad money is introduced in an economy, it will drive out good money.…”

Section: Theoretical Framework: Gresham's Law Of the Monetary Systemsmentioning

confidence: 99%

The Use of Surrogate Currency to Address Liquidity Crisis: The Zimbabwean Experience

Denhere¹,

Mhlanga²

2021

EJEF

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Zimbabwe has experienced an economic meltdown dating back to 2000, which created perennial economic woes such as a liquidity crisis that continued haunting the country to date. Various possible solutions were explored but did not yield the desired results. Amongst the explored solutions was an introduction of surrogate currency specifically to curb the liquidity crisis. This paper sought to explore the effects of using "surrogate currency" to address the liquidity crisis in Zimbabwe by employing a desk review. Currently, there is a dearth of literature on using surrogate currency in African countries. Hence this study contributes to the existing literature on the use of such currency. The review established that the surrogate currency led to the emergence of bad money as propounded by Gresham’s law of currency systems. Moreover, the surrogate currency rapidly lost its value, whereas the introduction of the surrogate currency failed to address the liquidity crisis, leading to other socio-economic challenges. Finally, financial reporting under the surrogate currency became a challenge as well. This study recommends the withdrawal of the surrogate currency and the use of multicurrency along with the promotion of products for export to attract more foreign currency into the economy.

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Section: Theoretical Framework: Gresham's Law Of the Monetary Systemsmentioning

confidence: 99%

The Use of Surrogate Currency to Address Liquidity Crisis: The Zimbabwean Experience

Denhere¹,

Mhlanga²

2021

EJEF

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Developing a generic model of Gresham’s law for qualitative analyses

Emblemsvåg¹,

Emblemsvåg²

2022

International Journal of General Systems

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Semi-device-independent quantum money

Horodecki

Stankiewicz

2020

New J. Phys.

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The seminal idea of quantum money, not forgeable due to laws of Quantum Mechanics, proposed by Stephen Wiesner, has laid the foundations for the Quantum Information Theory in the early '70s.Recently, several other schemes for quantum currencies have been proposed, all, however, relying on the assumption that the quantum source device, acts according to its specification. This makes several known quantum money protocols vulnerable to the so-called hardware Trojan horse attacks. We, therefore, study the following problem: to what extent quantum money schemes can be made independent from the inner working of source and verification-devices used by the honest parties (bank and mint) in creating and processing the quantum money? Drawing inspirations from the semi-device-independent quantum key distribution protocol, we introduce the first scheme of quantum money with this assumption partially relaxed, along with the proof of its unforgeability. Finally, we formulate and discuss a quantum analog of the Oresme-Copernicus-Gresham's law of economy, that may hold in the future.

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Some Notes on the Gresham's Law of Money Circulation

Cited by 5 publications

References 7 publications

The Use of Surrogate Currency to Address Liquidity Crisis: The Zimbabwean Experience

The Use of Surrogate Currency to Address Liquidity Crisis: The Zimbabwean Experience

Developing a generic model of Gresham’s law for qualitative analyses

Semi-device-independent quantum money

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