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Vollgeld und Full Reserve Banking — Geldreformen auf dem Prüfstand

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  • Martin Sauber
  • Benedikt Weihmayr

Abstract

The functionality of the present monetary system is increasingly being questioned. Critics argue that money creation through banks would cause destructive boom-bust cycles, financial instability and an imperative for indebtedness and growth. As a solution, proponents of Vollgeld (positive money) and full reserve banking recommend strict monetary control and want to establish the central bank as the sole issuer of money. This article analyses the macroeconomic consequences of these proposals and points out their deficient theoretical foundations. From the authors’ perspective, an implementation of the postulated arrangements would lower the quality of the currency and therefore exacerbate socio-economic problems. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2014

Suggested Citation

  • Martin Sauber & Benedikt Weihmayr, 2014. "Vollgeld und Full Reserve Banking — Geldreformen auf dem Prüfstand," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 94(12), pages 898-905, December.
    • Handle: RePEc:spr:wirtsc:v:94:y:2014:i:12:p:898-905
    DOI: 10.1007/s10273-014-1766-7
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    More about this item

    Keywords

    E42; E44; E52;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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