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In this paper I show that a lax anti-counterfeiting policy is inconsistent with price stability. I use a deterministic matching model with no commitment and no enforcement. An intrinsically worthless but perfectly durable object called a ‘note’ can be produced by banks at a given cost, but...
Persistent link: https://www.econbiz.de/10011604558
As the recent financial crisis has revealed, the state is central to the stability of the money system, while the … chaotic privately-owned banks reap the benefits without shouldering the risks. This book argues that money is a public … resource that has been hijacked by capitalism. Mary Mellor explores the history of money and modern banking, showing how …
Persistent link: https://www.econbiz.de/10011903333
In monetary models in which agents are subject to trading shocks there is typically an ex-post inefficiency in that some agents are holding idle balances while others are cash constrained. This inefficiency creates a role for financial intermediaries, such as banks, who accept nominal deposits...
Persistent link: https://www.econbiz.de/10010277060
money, because Triffin and successors assume a commodity theory of money, a loanable funds model for credit creation, and … - chartalist money, endogenous credit creation, and interlocked global balance sheets - enables us to see four factors behind the …, and the dollar's status as global quasi-state money. …
Persistent link: https://www.econbiz.de/10014633245
Blockchain verspricht, Intermediäre wie Banken überflüssig zu machen und durch dezentrale Peer-to-Peer-Netzwerke zu ersetzen. Dieser Beitrag stellt die Frage nach der Realisierbarkeit dieser Ankündigung sowie danach, welche gesellschaftlichen Implikationen damit verbunden sind. Eine...
Persistent link: https://www.econbiz.de/10014503676
The paper analyzes why households in transition economies prefer to hold sizeable shares of their assets in cash at home rather than in banks. Using survey data from ten Central, Eastern and Southeastern European countries, I document the relevance of this behavior and show that cash preferences...
Persistent link: https://www.econbiz.de/10013370095
Using novel survey data, we examine attitudes towards money and to what extent they affect economic outcomes in … Switzerland. We find that three main types of attitudes towards money co-exist: the prestige and power attitude, the money … Switzerland. Attitudes towards money shape financial behaviour, but the relationship varies depending on the type of financial …
Persistent link: https://www.econbiz.de/10013205774
impatient children and adolescents are more likely to spend money on alcohol and cigarettes, have a higher body mass index (BMI …) and are less likely to save money. Experimental measures for risk and ambiguity attitudes are only weak predictors of …
Persistent link: https://www.econbiz.de/10010294843
Persistent link: https://www.econbiz.de/10010298401
savings. Is saving behaviour in EU-accession countries now driven by the same forces as it is in market economies? We use a …
Persistent link: https://www.econbiz.de/10010324197