The Endogeneity of Credit Money

Basil John Moore

Chapter 9 in Shaking the Invisible Hand, 2006, pp 197-214 from Palgrave Macmillan

Abstract: Abstract Money is the asset generally accepted as the means of payment and medium of exchange. Money also serves as a store of value and as the unit of account in which prices are expressed. The particular assets that are bestowed with general acceptability in exchange have evolved markedly over time, and are still evolving.1 For conceptual clarity it is essential to distinguish the differences between commodity, fiat, and credit money.

Keywords: Interest Rate; Central Bank; Banking System; Money Supply; Bank Credit (search for similar items in EconPapers)
Date: 2006
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DOI: 10.1057/9780230512139_9

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