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The Loans Standard Model of Credit Money

Author

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  • Rohan Baxter

    (Monash University, Department of Computer Science)

Abstract

The 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.

Suggested Citation

  • Rohan Baxter, 1993. "The Loans Standard Model of Credit Money," Working Papers 93/183, Monash University, Department of Compter Studies.
  • Handle: RePEc:wop:monaco:0183
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    References listed on IDEAS

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    More about this item

    Keywords

    monetary theory; interest rates; credit money;

    JEL classification:

    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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