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Linden Dollar and Virtual Monetary Policy

Title data

Ernstberger, Philip:
Linden Dollar and Virtual Monetary Policy.
Bayreuth : Universität Bayreuth , 2009 . - 20 S. - (Diskussionspapiere / Universität Bayreuth, Forschungsstelle für Bankrecht und Bankpolitik )

Official URL: Volltext

Abstract in another language

Growing activity and commitment of money in Second Life motivate the analysis of its economic and monetary system. It is stated that the allocation of resources to the virtual world can increase utility. Resulting demand for virtual goods drives demand for Linden Dollars - the unit of exchange used in Second Life. Since these can be interpreted as money, the effects of monetary policy are shown, which if unanticipated are fully reflected in a change of demand for virtual goods. If money flows out of the economy, costs of maintaining the fixed currency peg arise. In a currency crises model these are weighed against costs of depreciating the currency.

Further data

Item Type: Working paper, discussion paper
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Economics > Chair Economics I > Chair Economics I - Univ.-Prof. Dr. Bernhard Herz
Faculties
Faculties > Faculty of Law, Business and Economics
Faculties > Faculty of Law, Business and Economics > Department of Economics
Faculties > Faculty of Law, Business and Economics > Department of Economics > Chair Economics I
Result of work at the UBT: Yes
DDC Subjects: 300 Social sciences > 330 Economics
Date Deposited: 15 May 2015 12:32
Last Modified: 04 Apr 2019 05:40
URI: https://eref.uni-bayreuth.de/id/eprint/13547