The fourfold relation between the essence of money, inflation, bubbles and debt—A theoretical macrofounded analysis
Economic Notes, 2020, vol. 49, issue 3
The paper makes an unprecedented claim by identifying a significant relationship between money's (immaterial and intrinsic‐worth‐detached) essence and the measurement of inflation rates, on the one hand, and bubbles and private/public indebtedness, on the other hand. The inflationary potential of cryptocurrencies—among others: xenocurrencies and special drawing rights—is also analysed. Another added value is the consistently macroeconomic approach, which starts from the structural and interconnected mechanisms and then explains economic‐financial crises and their increasingly common features.
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