Der Stand der finanziellen Bildung in Deutschland zeigt ein ambivalentes Bild: Obwohl das Land in internationalen Studien zum Finanzwissen regelmäßig Spitzenplätze belegt, bestehen nach wie vor deutliche Defizite - vor allem bei sozio-demografisch benachteiligten Gruppen. Die vorliegende...

Money, capitalist market societies' paramount contract, relies on the belief in its enduring value. However, we still know surprisingly little about the social foundations that sustain that belief. How is our collective trust in the enduring value of money socially built, and what happens if...

Money, capitalist market societies' paramount contract, relies on the belief in its enduring value. However, we still know surprisingly little about the social foundations that sustain that belief. How is our collective trust in the enduring value of money socially built, and what happens if...

We propose a standard search and bargaining model with divisible money, in which only the random matching market opens and the generalized Nash bargaining settles each trade. Assuming fixed production costs, we analytically characterize a tractable equilibrium, called a pay‐all equilibrium ,...

Der Stand der finanziellen Bildung in Deutschland zeigt ein ambivalentes Bild: Obwohl das Land in internationalen Studien zum Finanzwissen regelmäßig Spitzenplätze belegt, bestehen nach wie vor deutliche Defizite - vor allem bei sozio-demografisch benachteiligten Gruppen. Die vorliegende...

This working paper integrates the credit money approach (associated with Post Keynesian endogenous money theory) with the state money approach (associated with Modern Money Theory) by drawing on Wray's 1990 book (Money and Credit in Capitalist Economies: The Endogenous Money Approach, Edward...

What explains the US dollar's role in the global economy and the tensions affecting its likely persistence? Most analyses start from Triffin's dilemma, which accurately captured specific but partial tensions of a global monetary system based on essentially fixed exchange rates, gold backing for...

The concept of a hierarchy of money or the idea that a number of instruments constitute money and that they are hierarchically related to one another is relatively recent and yet quite widespread. However, it is argued, that its comprehension differs. The most elaborated cases in which differing...