Vollgeld und Full Reserve Banking — Geldreformen auf dem Prüfstand

Martin Sauber () and Benedikt Weihmayr ()

Wirtschaftsdienst, 2014, vol. 94, issue 12, 898-905

Abstract: The functionality of the present monetary system is increasingly being questioned. Critics argue that money creation through banks would cause destructive boom-bust cycles, financial instability and an imperative for indebtedness and growth. As a solution, proponents of Vollgeld (positive money) and full reserve banking recommend strict monetary control and want to establish the central bank as the sole issuer of money. This article analyses the macroeconomic consequences of these proposals and points out their deficient theoretical foundations. From the authors’ perspective, an implementation of the postulated arrangements would lower the quality of the currency and therefore exacerbate socio-economic problems. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2014

Keywords: E42; E44; E52 (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/s10273-014-1766-7

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