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The credit counterparts of broad money

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  • Gerald Steele

Abstract

Tautological structures bring clarity to arguments in macroeconomics: familiar structures relate to the circulation of money, the circular flow of real income, and the balance of international payments. Less familiar is a structure incorporating all aspects of macroeconomic policy interventions. The origins and use of the credit counterparts of broad money are examined in the context of the application of UK monetary policy in the period since 1945.

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  • Gerald Steele, 2014. "The credit counterparts of broad money," Working Papers 64401562, Lancaster University Management School, Economics Department.
  • Handle: RePEc:lan:wpaper:64401562
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