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An evolutionary model of the bank size distribution is presented based on the exchange and expansion of deposit money … theory is to regard the creation of money as a slow process compared to exchange processes of deposit money. The exchange of …
Persistent link: https://www.econbiz.de/10010193850
on the idea that the size distribution is the result of the competition between banks for permanent deposit money. The …An evolutionary model of the bank size distribution is presented based on the exchange and creation of deposit money …
Persistent link: https://www.econbiz.de/10010251071
money. Since the early 1930s Hayek had been concerned about the role of money in the theory of production (Hayek, 1931 … information available in the markets, for the purpose of economic calculus. In his view, competition, through the price market … information to correctly manage the money supply. Frederic von Hayek, in fact, restated the relevance of concepts and ideas …
Persistent link: https://www.econbiz.de/10011534016
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We investigate monopolistic tendencies and the intensity of currency competition on the crypto market in the light of … Hayek’s "Denationalization of money". Interestingly, Hayek never considered differentiation and specialization by innovative … private currencies could lead lasting currency competition instead of network effects. We argue that competition between …
Persistent link: https://www.econbiz.de/10013499180
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The monetary economy has properties that cannot be analyzed using the tools of today's dynamic general equilibrium analysis. Keynes's economics, far from being an aberration in the otherwise orderly evolution of modern macroeconomics from Adam Smith's ideas about the invisible hand, was a major...
Persistent link: https://www.econbiz.de/10010291902
This paper examines Robert E. Lucas's views on the relationship of macroeconomics to real world economic phenomena, and on Keynes's place in its history, suggesting that these stem from a particular and debatable understanding of how the subdiscipline has evolved. It considers some implications...
Persistent link: https://www.econbiz.de/10010292008