investigates to what extent the quality of eligible collateral is able to explain inflation employing the first comprehensive … statistically significant correlation between QEC and average inflation is found. This result is robust to the use of control … establishing QEC as one pivotal element of a theory of central banking. Collateralisation of the issuance of money and the …

countries and we show that this index has the potential to affect monetary stability as measured by national inflation rates …. The existence of a correlation between inflation and the quality of eligible collateral would strongly support fundamental … claims of property economics, an economic theory based on a clear cut distinction between property and possession. Property …