We hope to model financial fragility and money in a way that captures much of what is crucial in Hyman Minsky …

The general equilibrium model with incomplete financial markets (GEI) is extended by adding fiat money, fiscal and … monetary policy and a cash-in-advance constraint. The central bank either pegs the interest rate or money supply while the …

This paper briefly summarizes the orthodox approach to banking, finance, and money, and then points the way toward an …, but also sheds more light on the nature of money in modern economies. In orthodoxy, money is something that reduces … all orthodox approaches to banking, finance, and money: banks, financial instruments, and even money itself originate to …

This article examines the misconceptions about modern money theory (MMT) put forward by . The author divides her … means-of-payment function of money, that it considers money as a pure asset, that it does not distinguish between inside and … outside money, and that it does not distinguish between money and the monetary base. Second, Drumetz/Pfister (2021) falsely …

awareness and respect for empirical content to bear when he wrote about the Quantity Theory of Money, but he hesitated to probe …

consumption function and the demand for money, not to mention monetary history, which helped to undermine the post World War 2 … case for a money growth rule, and the expectations augmented Phillips curve are then taken up, followed by a discussion of …