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On money: A brief intellectual interpretation

Fornasari, Massimo - In: The Journal of European Economic History (JEEH) 52 (2023) 1, pp. 183-207

The nature of money continues to perplex us. Over time anthropologists, economists, historians and sociologists have provided various answers to the question "what is money?" Ultimately these answers reflect different and often contradictory approaches to the dynamics of economic systems and...

Persistent link: https://www.econbiz.de/10015206892

A century of macroeconomic and monetary thought at the National Bank of Belgium

Maes, Ivo - 2010

"A century of macroeconomic and monetary thought at the National Bank of Belgium" traces the history of economic research at the National Bank of Belgium, from the early decades of the 20th century to its present functioning in the Eurosystem. The study also goes into the major economic policy...

Persistent link: https://www.econbiz.de/10011506708

Is Now the Time for Modern Monetary Theory or Permanent Monetary Finance?

Schlotmann, Olaf - In: Credit and Capital Markets – Kredit und Kapital 54 (2021) 1, pp. 17-36

also plays a key role in Modern Monetary Theory (MMT), the concept of helicopter money and the idea of permanent monetary …, that the theory is almost always contradicted by the actual workings of the modern credit economy. In fact, MMT seems to be …

Persistent link: https://www.econbiz.de/10014522624

Money and exchange: Folktales and reality

Fayazmanesh, Sasan - 2006

Whether a theoretical system is realistic or not has been a concern in economics, particularly in monetary theory, over … the past century. Following John R. Hicks' proposal that a realistic monetary theory could be constructed along an … basic theories of monetary analysis. Concentrating primarily on certain fundamental building blocks it covers: the theory …

Persistent link: https://www.econbiz.de/10012648074

Uncertainty, inflation, and welfare

Chiu, Jonathan; Molico, Miguel - 2008

This paper studies the welfare costs and the redistributive effects of inflation in the presence of idiosyncratic liquidity risk, in a micro-founded search-theoretical monetary model. We calibrate the model to match the empirical aggregate money demand and the distribution of money holdings...

Persistent link: https://www.econbiz.de/10010279920

Money

Wray, L. Randall - 2010

possible. These three propositions are used to build a theory of money that is linked to common themes in the heterodox …'s approach, which relies on accounting identities; the K distribution theory of Keynes, Michal Kalecki, Nicholas Kaldor, and …

Persistent link: https://www.econbiz.de/10010286493

Liquidity Shortages and Monetary Policy

Illing, Gerhard; Cao, Jin - 2007

The paper models the interaction between risk taking in the financial sector and central bank policy. It shows that in the absence of central bank intervention, the incentive of financial intermediaries to free ride on liquidity in good states may result in excessively low liquidity in bad...

Persistent link: https://www.econbiz.de/10010427485

Endogenous Systemic Liquidity Risk

Cao, Jin; Illing, Gerhard - 2008

Traditionally, aggregate liquidity shocks are modelled as exogenous events. Extending our previous work (Cao & Illing, 2007), this paper analyses the adequate policy response to endogenous systemic liquidity risk. We analyse the feedback between lender of last resort policy and incentives of...

Persistent link: https://www.econbiz.de/10010427534

Reserve requirements and economic stabilization

Bindseil, Ulrich - 1997

Persistent link: https://www.econbiz.de/10010478835

Die Stabilisierungswirkungen von Mindestreserven

Bindseil, Ulrich - 1997

This paper focuses on the quest ion whether reserve requirements can contribute anything to the stabilization of financial markets and economic activity ...

Persistent link: https://www.econbiz.de/10010478836