[Title Page]
Copyright
Contents
Abstract 5
I. Introduction 6
II. Related Literature and Background 10
III. Model 12
1. Digital Currency 12
2. The Dual Currency Regime Model 15
3. Consumption Function 18
4. Value Function 21
5. The Equilibrium 22
6. Robustness of the Model with respect to α 26
IV. Numerical Examples and Implications 27
V. Conclusion 32
References 34
Appendix 36
요약 39
BOK 경제연구 발간목록 40
[Back Cover] 47