New estimates of U.S. currency abroad, the domestic money supply and the unreported economy

@article{Feige2011NewEO,
  title={New estimates of U.S. currency abroad, the domestic money supply and the unreported economy},
  author={E. Feige},
  journal={Crime, Law and Social Change},
  year={2011},
  volume={57},
  pages={239-263}
}
  • E. Feige
  • Published 2011
  • Business, Economics
  • Crime, Law and Social Change
Despite financial innovations that have created important new substitutes for cash usage, per capita holdings of U.S. currency amount to $2950. Yet American households and businesses admit to holding only 15% of the currency stock, leaving the whereabouts of 85% unknown. Some fraction of this unaccounted for currency is held abroad (the dollarization hypothesis) and some is held domestically undeclared, as a store of value and a medium of exchange for transactions involving the production and… Expand

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