Search Results - subject:"Overissue"

The real-bills doctrine in the light of the law of reflux

Glasner, David - In: Studies in the history of monetary theory : …, (pp. 85-112). 2021

This chapter considers the law of reflux and its alternative interpretations: (1) as a monetary policy rule for stabilizing the price level and (2) as rule for individual banks to follow to remain liquid. The chapter argues that Adam Smith endorsed only the second interpretation, and that the...

Persistent link: https://www.econbiz.de/10012705224

Monetary disequilibrium and the demand for money in Ricardo and Thornton

Glasner, David - In: Studies in the history of monetary theory : …, (pp. 135-153). 2021

convertibility of sterling into gold was suspended during the Napoleonic Wars. Ricardo held that only overissue by the Bank of …

Persistent link: https://www.econbiz.de/10012705227

The Humean and Smithian traditions in monetary theory

Glasner, David - In: Studies in the history of monetary theory : …, (pp. 155-194). 2021

) the overissue of bank liabilities, (2) the price-specie-flow mechanism (PSFM), (3) the need for a lender of last resort in …

Persistent link: https://www.econbiz.de/10012705228