Endogenous versus exogenous money: Does the debate really matter?

Arkadiusz Sieroń

Research in Economics, 2019, vol. 73, issue 4, 329-338

Abstract: Whether money is exogenous or endogenous is the subject of one of the most important and intriguing debates in monetary economics. The aim of this article is to contribute to this longstanding debate through detailed examination of different notions of endogeneity and exogeneity of money. I argue that the debate has been too simplified. In reality, money can be either endogenous or exogenous, depending on several factors. Not only has the debate prompted some economists to draw too far-reaching conclusions, but it also misses the point.

Keywords: Endogenous money; Exogenous money; Money; Money creation; Money supply; Banks; Central banks (search for similar items in EconPapers)
JEL-codes: B5 E40 E51 G21 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:reecon:v:73:y:2019:i:4:p:329-338

DOI: 10.1016/j.rie.2019.10.003

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