Interest can be defined as the price paid by the borrower for the use of funds saved by the lender and the compensation to the lender for deferring expenditures. This compensation comprises two elements, namely a payment equal to the loss of purchasing power of the principal during the term of...

Monetary aggregates are the money circulating in an economy to satisfy its current monetary needs. There are two indicators for monetary aggregates collected by the OECD: "narrow money" (M1); a means of exchange and "broad money" (M3); a way to store value. Monetary aggregates are measured as a...