Cathy Zhang


Competing Currencies in the Laboratory

Staff Working Paper 2017-53 Janet Hua Jiang, Cathy Zhang
We investigate competition between two intrinsically worthless currencies as a result of decentralized interactions between human subjects. We design a laboratory experiment based on a simple two-country, two-currency search model to study factors that affect circulation patterns and equilibrium selection.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Central bank research, Digital Currencies JEL Code(s): C, C9, C92, D, D8, D83, E, E4, E40

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