concentrated in space. As a result, inside and outside money have evolved as complements. Extensive market creation today has … complete markets interrupts inside-outside money flows. Higher interest rates would make market completion more costly, slowing …

Money, as the quantitative representative of almost everything, decently occupies the central position in the … models, as one could also call that of "private non-bank money". The term "private non-bank money" is a conceptual successor … to the term of "barter money" . Both are formal, synthetic words created as a tool to get better sense of the pretty wide …