Money, income, and capital: A reform of the system of national payments

Andrea Carrera
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Andrea Carrera: Università della Svizzera italiana, Lugano, Switzerland

Cuadernos de Economía - Spanish Journal of Economics and Finance, 2016, vol. 39, issue 111, 189-202

Abstract: Despite business investment prompts economic growth, it is necessary to ask what financial problems eventually arise at the national level when investment is carried out, and what banking policies may be enacted to avert them. One of the main arguments of this work consists in the role potentially played by commercial banks whenever these policies are conducted. Monetary institutions should recognize a fundamental difference between distributive payments and those transactions that are at the origin of new income. We argue that a reform of the system of national payments would prevent monetary disorders from triggering any divergence between global demand (households’ purchasing power) and global supply (output).

Keywords: Investment; Inflation; Payment systems (search for similar items in EconPapers)
JEL-codes: E22 E31 E42 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:cud:journl:v:39:y:2016:i:111:p:189-202

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