The Loans Standard Model of Credit Money
AbstractThe Loans Standard (LS) model is an example of a credit monetary system. The LS model encapsulates the credit money characteristics which have been identified in the present monetary system, but abstracts away from other aspects such as commodity and fiat money. In the resulting purely credit monetary model, the implications for interest rates, monetary inflation and the structure of monetary institutions are explored. The LS model can be used to help clarify some of the endogenous credit money issues raised by Moore, Wray, Minsky and others.
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Bibliographic InfoPaper provided by Monash University, Department of Compter Studies in its series Working Papers with number 93/183.
Date of creation: May 1993
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monetary theory; interest rates; credit money;
Find related papers by JEL classification:
- L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
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