00000nam 2200000za 4500 9.848568 CaOODSP 20221107153717 cr ||||||||||| 171211s2017 oncd ob f000 0 eng d CaOODSP eng eng fre n-cn--- FB3-5/2017-53E-PDF Jiang, Janet Hua. Competing currencies in the laboratory [electronic resource] / by Janet Hua Jiang and Cathy Zhang. [Ottawa] : Bank of Canada, 2017. 61 p. in various pagings : col. charts. Bank of Canada staff working paper, 1701-9397 ; 2017-53 "December 2017." Includes bibliographical references (p. 25-26). “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. Experimental results indicate foreign currency acceptance rates decrease with relative country size but are not significantly affected by the degree of integration. The laboratory economies tend to converge to a unified currency regime where both currencies circulate at home and abroad, even if other regimes are theoretical possibilities. Introducing government transaction policies biased towards domestic currency significantly reduces the acceptability of foreign currency. These findings suggest government policies can serve as a coordination device when multiple currencies are available"--Abstract, p. ii. Includes abstract in French. gccst Currency gccst Competition Zhang, Cathy. Bank of Canada. Staff working paper (Bank of Canada) 1701-9397 ; 2017-53 (CaOODSP)9.806221 PDF 1.61 MB https://publications.gc.ca/collections/collection_2017/banque-bank-canada/FB3-5-2017-53-eng.pdf