The Monetary Transmission Mechanism
Several articles have recently questioned the "money view" of the monetary transmission mechanism and have offered an alternative "credit view". We argue that the money view has been incompletely presented in much of the literature and in almost all textbooks on Macroeconomics and Money and Banking. A distinction between the two views is unnecessary if one presents the money view correctly. A change in the money supply can affect income both directly and indirectly through what we call the "cash balance effect", which has other aspects than the wealth aspect that Patinkin emphasizes in discussing his "real-balance effect."
Volume (Year): 23 (1997)
Issue (Month): 3 (Summer)
|Contact details of provider:|| Postal: c/o Dr. Alexandre Olbrecht, The Anisfield School of Business 205, Ramapo College, 505 Ramapo Valley Road, Ramapo, New Jersey 07430, USA|
Phone: (201) 684-7346
Web page: https://www.quinnipiac.edu/eea/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:eej:eeconj:v:23:y:1997:i:3:p:293-299. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Matheson, College of the Holy Cross)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.