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The theory of money supply: a case study

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  • Taylor, Leon

Abstract

The theory of money supply is less developed than that of money demand, largely because 19th-century economists believed that money was unimportant and because they viewed the central bank as either an appendage to the economy or as a welfare-maximizing black box. The paper reviews each of these beliefs in turn.

Suggested Citation

  • Taylor, Leon, 2014. "The theory of money supply: a case study," MPRA Paper 54208, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:54208
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    File URL: https://mpra.ub.uni-muenchen.de/54208/1/MPRA_paper_54208.pdf
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    References listed on IDEAS

    as
    1. Wood,John H., 2005. "A History of Central Banking in Great Britain and the United States," Cambridge Books, Cambridge University Press, number 9780521850131.
    2. Hayek, F. A., 1995. "Contra Keynes and Cambridge," University of Chicago Press Economics Books, University of Chicago Press, number 9780226320656 edited by Caldwell, Bruce, September.
    3. Wood,John H., 2009. "A History of Central Banking in Great Britain and the United States," Cambridge Books, Cambridge University Press, number 9780521741316.
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    Cited by:

    1. Constantin ANGHELACHE & Madalina Gabriela ANGHEL & Cristina SACALA, 2016. "The Financial Sector Influence On Portfolio Dynamics," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 64(7), pages 9-13, July.

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    More about this item

    Keywords

    money supply; history of economic thought; central bank;
    All these keywords.

    JEL classification:

    • B19 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Other
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics

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