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The author provides a rigorous analysis of Milton Friedman's parable of the "helicopter" drop of money a permanent/irreversible increase in the nominal stock of fiat base money rate which respects the intertemporal budget constraint of the consolidated Central Bank and Treasury - the State....
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command over real resources through its ability to issue fiat money. They are (1) seigniorage (the change in the monetary base …
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command over real resources through its ability to issue fiat money. They are (1) seigniorage (the change in the monetary base …
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command over real resources through its ability to issue fiat money. They are (1) seigniorage (the change in the monetary base …
Persistent link: https://www.econbiz.de/10012465737
command over real resources through its ability to issue fiat money. They are (1) seigniorage (the change in the monetary base …
Persistent link: https://www.econbiz.de/10012777609
command over real resources through its ability to issue fiat money. They are (1) seigniorage (the change in the monetary base …
Persistent link: https://www.econbiz.de/10014048989