Abstract
This article recounts the origin of Gresham’s Law, discusses its theoretical and empirical problems, and presents several refinements that have been proposed.
Keywords
- Assignats
- Asymmetric information
- Bimetallism
- Exchange rate indeterminacy
- Good and bad money
- Giffen, R.
- Gresham, T.
- Gresham’s law
- Legal tender
- Seigniorage
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Velde, F.R. (2018). Gresham’s Law. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_747
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DOI: https://doi.org/10.1057/978-1-349-95189-5_747
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Online ISBN: 978-1-349-95189-5
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