Money creation within the macroeconomy: An integrated model of banking
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DOI: 10.1016/j.irfa.2020.101547
Abstract: Abstract We develop a stock-flow consistent model to describe a macroeconomic system consisting of households, firms, the government, the central bank, and banks. The framework is based on the balance sheets of all sectors, in… read more here.
Keywords: integrated model; money; model; creation within ... See more keywords
Where does money come from? The dual circuit of money creation
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DOI: 10.1177/05390184221107319
Abstract: The workings of monetary systems have been controversially discussed. Mainstream economists assert that money creation is a ‘top down’ process governed by centralized monetary policy decisions (central banks => banks => customers), while heterodox economists emphasize ‘bottom up’ dynamics… read more here.
Keywords: dual circuit; circuit money; money; money creation ... See more keywords
Money creation in the modern economy: an appraisal
Sign Up to like & getrecommendations! Published in 2021 at "Review of Keynesian Economics"
DOI: 10.4337/roke.2021.01.03
Abstract: This paper models a representative bank, and uses this model to explore the assumptions and implications of a selection of money-creation theories. It is shown that the money-supply process tends toward the logic of exogeneity… read more here.
Keywords: modern economy; money; creation modern; money creation ... See more keywords