clearly confirm that the amount of credit money in the economy is a very important variable, that can affect economic …

nationally segmented banking systems. As a side effect, the national central banks substitute money market operations for cross …

The authors pick up the standard textbook approach of money creation and develop a simple agent-based alternative. They … show that their model is well suited to explain the endogenous creation of money. Although more general, their model still …

In this paper the authors focus on credit connections as a potential source of systemic risk. In particular, they seek … to answer the following question: how do we find densely connected subsets of nodes within a credit network? The question … decomposition method. To illustrate this method they provide a community description of the Japanese bank-firm credit network …

phenomenon that encapsulates the interplay of nominal staggering and money growth. The existence of a downward-sloping long … equations. We then evaluate the inflation-unemployment tradeoff and assess the impact of productivity, money growth, budget …

role of the credit market in the transmission mechanism is now regarded as a major limitation. Drawing on the modern … literature on the monetary transmission mechanisms with capital market imperfections, this paper presents a model of the "credit …-cost channel" of monetary policy. The thrust of the model is that firms' reliance on bank loans ("credit channel") may make …

Credit relationships between commercial banks and quoted firms are studied for the structure and its temporal change … from the year 1980 to 2005. At each year, the credit network is regarded as a weighted bipartite graph where edges … correspond to the relationships and weights refer to the amounts of loans. Reduction in the supply of credit affects firms as …

original invention of reserve banking. The consequence of this lending invention is to render the existing money multiplier … and early nesting iterations can raise the multiplier into the thousands. This money creation innovation has the …

The strategy of monetary targeting is based on the stability of the money multiplier and of the velocity of money. It …. The conclusion for German monetary policy is that the expansion of the money stock M3 has to be much lower than in 1991 …