Research Discussion Paper – RDP 2015-05 The Social Costs of Currency Counterfeiting

Contents

• Introduction
• Counterfeiting and Confidence
• The Social Costs of Currency Counterfeiting
• A Structural Model of Counterfeiting and Methods of Payment
• Robustness of Results
• Conclusion
• Appendix A: Data
• Appendix B: Alternative Model
• References

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We would like to thank James Hansen, Michael Andersen, Michele Bullock, John Simon, Christopher Kent, Eden Hatzvi, Daniel Rees and seminar participants at the Reserve Bank of Australia for valuable comments.