La pensée monétaire trouve sa sève dans l'histoire des faits et des débats monétaires et bancaires. Bien que ni les classiques au dix-neuvième siècle, ni les néo-classiques aujourd'hui, ne parviennent à intégrer correctement la monnaie dans leurs théories économiques, on n'ignore pas...

In 1911, Fisher published The Purchasing Power of Money. In chapter 13 of the first edition and in an appendix in the second section of 1913, he introduced a rule to maintain the stability of the level of prices, known as the “compensated dollar”. According to this rule, the legal definition...

The aggregation of budget constraints of the enterprises and the households allows us to throw a new light on the controversy between Keynes and Harrod concerning the classical theory of the rate of interest. It appears that the critique of the classical theory that Keynes formulated does not...

In the midst of the US Civil War, in 1863, the Northern states of the federal Union established the National Banking System. It contributed to financing the war effort and to the circulation of banknotes. Following the civil war, this system was retained and extended across the reunified...

By granting credit and issuing money, banks take a liquidity risk that is to say the risk of being unable to reimburse its notes in coins. Four different explanations of a bank liquidity crisis have been provided by different authors, since John Law and up to Walter Bagehot. First, according to...