countries, even using data-sets covering most recent time periods. Thus, there seems to be less financial market integration … of financial integration between the current EU-member states and the central and eastern European accession states. We …(er) consumption correlations (just opposite to the theory of complete financial markets) does also and still exist among European …

This paper studies the joint business cycle dynamics of inflation, money growth, nominal and real interest rates and the … velocity of money. I extend and estimate a standard cash and credit monetary model by adding idiosyncratic preference shocks to …

empirical relevance, preferring to view banks as one of many potentially important actors in the financial market. In this paper …A wide range of heterodox theories claim that banks are special because they create money in the act of lending. Put …

This article purports to trace the origin of money on the basis of factors in interpersonal relationships, affecting a … process toward the creation of money started, without any intrinsic value and the presence of any superior authority. In the … paper it is also hypothesized that the creation of money is one of the basic factors in the progress of economic and social …