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

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 …

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 …