Exploring Monetary Systems

Raphaël Didier and Thomas Lagoarde-Segot ()
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Raphaël Didier: Université de Lorraine
Thomas Lagoarde-Segot: KEDGE Business School and SDSN France

Chapter Chapter 4 in Ecological Money and Finance, 2023, pp 89-122 from Springer

Abstract: Abstract Modern monetary system are complex social constructs. Monetary aggregates—which serve as medium exchange and as a store of value—are all denominated in a unit of account (e.g. the euro), and are classified according to their liquidity: that is, the speed with which they can be converted into cash. But what is the role of private banks in money creation and destruction? How does interbank clearing work, and why are Central Bank necessary to maintain the stability of the payment system? What are the main implications of 21st century monetary contestations (such as cryptocurrencies and local complementary currencies) for sustainability? These are some the main questions adressed in this chapter.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-14232-1_4

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DOI: 10.1007/978-3-031-14232-1_4

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