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 …

currency or an international central bank. This paper focuses on Hayek’s overall philosophy on international money mechanism … bank and his concerned over unstable arrangements in money mechanism,which, he believes, profoundly affects economic and …

In this paper, we analyze the process of money creation in a credit economy. We start from the consideration that the … traditional money multiplier is a poor description of this process and present an alternative and dynamic approach that takes into … network theory and statistical mechanics, we then try to shed some light on the actual process by which money is endogenously …

the demand for money. Exogeneous or endogenous money supply? The different positions taken in the literature on the …

monetary policy, which is useless under absolute liquidity preference, i.e. when the money demand is perfectly elastic. An … Risk and the comonotonic dependence structure determines the amount of money demanded by the economy. As a consequence, the …-rate-elasticity of the money demand. Moreover, part of the adjustment to reestablish the short-run monetary equilibrium may be performed …

money supply. In June 2014, the real money supply decreased. That has happened for the first time since December 2009. It … required that such quantitative easing be put in place as would make real money supply grow at a pace no slower than the target …

growth rate of the real money supply. In June 2014, the real money supply decreased. That has happened for the first time … economic growth, it is required that such quantitative easing be put in place as would make real money supply grow at a pace no …

of the financial system. The state and development of money and capital markets is analyzed as well. The legislation …