Rethinking Endogenous Money: A Constructive Interpretation Of The Debate Between Horizontalists And Structuralists
AbstractBeyond a widespread agreement on the idea that 'loans create deposits' and 'deposits make reserves', there is much controversy in the endogenous money literature over the workings of the reserve market, the credit market and the financial markets. In this paper a constructive interpretation of the debate between horizontalists and structuralists is suggested and their arguments are taken forward by showing that these controversial issues can be explained rigorously once a single-period-continuation framework is adopted. Copyright Blackwell Publishing Ltd 2004.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Metroeconomica.
Volume (Year): 55 (2004)
Issue (Month): 4 (November)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0026-1386
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- Boermans, Martijn Adriaan & Moore, Basil J, 2008. "Locked-in and Sticky Textbooks: Mainstream Teaching of the Money Supply Process," MPRA Paper 14845, University Library of Munich, Germany, revised Apr 2009.
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- Man-Seop Park, 2007. "Routes of Money Endogeneity: A Heuristic Comparison," Discussion Paper Series 0729, Institute of Economic Research, Korea University.
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