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Despite constituting the very heart of the monetary transmission mechanism, widespreadmisconceptions still exist regarding how monetary policy is implemented. This paperhighlights the key misconceptions in this regard and shows how they have compromised theunderstanding of important aspects of...
Persistent link: https://www.econbiz.de/10009248817
The quantum money (q-money) as a possible convenient, socially innovative, technologically attractive and user … a number of topics: 1. The historical evolution of the money in the financial systems within the economies of the scales … and scopes over the centuries. 2. The definition on the electronic money in the financial systems within the economies of …
Persistent link: https://www.econbiz.de/10013011623
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 …
Persistent link: https://www.econbiz.de/10011097384
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 …
Persistent link: https://www.econbiz.de/10011113973
regulations (which led to a deep decline in the money multiplier). However, there are numerous signs in both the real and …
Persistent link: https://www.econbiz.de/10011859175
regulations (which led to a deep decline in the money multiplier). However, there are numerous signs in both the real and …
Persistent link: https://www.econbiz.de/10011852813
The standard argument is that while money creation and credit creation have different channels, they provide the same … the long-run relationship between the credit and money multipliers in Japan. …
Persistent link: https://www.econbiz.de/10010837065
By taking into account the procyclical nature of the money multiplier varies procyclically due to the public … fiscal policy multipliers will vary in size with the money multiplier. …
Persistent link: https://www.econbiz.de/10005769960
The paper presents a historical account of the evolution of modern financial systems. It is argued that money supply …
Persistent link: https://www.econbiz.de/10008784500
The role of money in society has been a controversial topic in economic theory over many years. Particular attention … has been devoted to the analysis whether there should be competition in the supply of money, or whether this is best left … today we have competition between issuers of money, namely in the international context, with electronic money, and in large …
Persistent link: https://www.econbiz.de/10011604291