Money creation in hierarchical systems

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Chapter 11 in The International Monetary System and the Theory of Monetary Systems, 2016, pp 105-111 from Edward Elgar Publishing

Abstract: General problems about money creation are studied in Chapter 5. This chapter focuses on more specific problems: those which concern the working of the monetary systems of our time. These systems are hierarchical, national and public, which implies that there is a central bank which determines monetary policy, that is, the rate of growth of the quantity of money. Money creation is the result of interrelations between the central bank decisions, those of the commercial banks and the monetary behaviour of money-holders.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2016
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