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Both money and debt are products of credit creation of banks. Money is always circulating among traders by facilitating commodity transactions. In contrast, debt is created by borrowing and annihilated by repayment as it is matured. However, when this creation- annihilation process is mediated...
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-1936 from when he worked on A Treatise on Money to the completion of his General Theory. The forced saving notion has been … demand in the General Theory and its process. I provide evidence suggesting that the development of the General Theory is … Fundamental Equations and subsequent theory of effective demand in the explanation of the problem of unemployment. …
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Several explanations have been put forward for the observation that massive inflation has not appeared as a result of the explosive monetary growth generated by quantitative easing that was in 2008. Several plausible explanations have been put forward for this observation, but none of them can...
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The joint hypothesis test is a replicable interpretation of the quantity theory of money (QTM) when used as an … inflation theory. This study examined the effect of money supply and gross domestic product (GDP) growth on inflation volatility …
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