included in measures of the money supply. The reason is accounting conventions, which do not permit adding liabilities, such as … credit card balances, to assets, such as money. But economic aggregation theory and index number theory are based on … cards and money. The underlying assumption is that credit card services are not weakly separable from the services of …

included in measures of the money supply. The reason is accounting conventions, which do not permit adding liabilities, such as … credit card balances, to assets, such as money. But economic aggregation theory and index number theory are based on … cards and money. In the transmission mechanism of central bank policy, these results raise potentially fundamental questions …

study examines how a change in the policy instrument of the Reserve Bank of South Africa affects money, credit and level of … and money supply respond instantaneously to changes in the repo rate by the South African reserve bank. Our analysis …

ABSTRACTThis paper considers the question: - In face of changes in the demand for money resulting from an increase in … for a normative conclusion about the convenience of a monetary regime with a State monopoly of the money supply, forced … legal tender and central bank versus the alternative of competitive money supply.RESUMEN¿ANTE LOS CAMBIOS EN LA DEMANDA DEL …

currency or an international central bank. This paper focuses on Hayek’s overall philosophy on international money mechanism … bank and his concerned over unstable arrangements in money mechanism,which, he believes, profoundly affects economic and …

money and its interaction with monetary policy. Borrowing capacity, and ultimately consumption, is linked to the value of …

In this paper, we analyze the process of money creation in a credit economy. We start from the consideration that the … traditional money multiplier is a poor description of this process and present an alternative and dynamic approach that takes into … network theory and statistical mechanics, we then try to shed some light on the actual process by which money is endogenously …

We define a non-tâtonnement dynamics in continuous-time for pure-exchange economies with outside and inside fiat money … can use them to pay their own debts only in the next period. Provided there is enough inside money, monetary trade curves … converge towards Pareto optimal allocations; money has a positive value along each trade curve, except on the optimal rest …

We define continuous-time dynamics for exchange economies with fiat money. Traders have locally rational expectations … game involving a double-auction with limit-price orders. Money has a positive value except on optimal rest-points where it … nominal variables. Money is not neutral, either in the short-run or long-run, and a localized version of the quantity theory …

the demand for money. Exogeneous or endogenous money supply? The different positions taken in the literature on the …