model that captures distinguishing features of the European money supply process and show how money supply responds when … borrowed reserves is of crucial importance for monetary policy practice. -- Loan and money supply ; central bank lending …

In a world with imperfect competition, market externalities or asymmetric information, the impact of money and monetary … policy on the real sector depends on the way money is created. Two conflicting views of money supply can be distinguished in … theoretical and from an empirical point of view. An industrial organization model of the money-creating sector with endogenous …