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. Contrary to a number of recent similar papers estimated with US and euro-area data, we find that real money balances contribute … Geldmenge einen signifikanten Beitrag zur Erklärung der Inflation und der Dynamik des Bruttoinlandsprodukts leistet. Das Model …
Persistent link: https://www.econbiz.de/10010295763
Complementarity of money mean that two or more kinds of monies together fulfil the demand of the users better than they … address four questions: 1) What was used as money on a macro level (money supply) and on a micro level (monetary remittances …
Persistent link: https://www.econbiz.de/10010281353
of the Freeman (1996) model of money and payments, we first analyze the problematic monetary situation in the Netherlands …
Persistent link: https://www.econbiz.de/10010397692
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
whether money growth Granger-causes output growth in the United States. We find surprisingly strong evidence for a money … Great moderation, the Granger-causal role of money appears to have vanished completely. …
Persistent link: https://www.econbiz.de/10010299137
ability of money-based forecasts relative to a simple random walk benchmark model was high at medium-term forecasting horizons …
Persistent link: https://www.econbiz.de/10011604913