WIR - The Macro-Stability of Swiss WIR-Bank Spending - Balance and Leverage Effects - James Stoder
July 11, 2011 helyipenz 126 other publications
In a recent paper, Stodder (2009) showed that from 1948 to 2003, WIR bank transactions were secondary currency can improve dynamic efficiency, then standard monetary policy cannot be optimal. But what is the mechanism of this stabilizing effect? Stodder noted what a Swiss economist (Studer, Balances (not Velocity) are the counter-cyclical driver. Data on transactions by industry and type of Registered” firms. Such non-member firms are free to accept only as much WIR-currency as they wish, 1
In a recent paper, Stodder (2009) showed that from 1948 to 2003, WIR bank transactions were secondary currency can improve dynamic efficiency, then standard monetary policy ca...
