The Independent Sectors: I. The National Government

Graeme S. Dorrance

Chapter 10 in National Monetary and Financial Analysis, 1978, pp 131-136 from Palgrave Macmillan

Abstract: Abstract The National government is the clearest example of an independent sector. As it has the right to issue currency, there are no constraints on its freedom to incur expenditure and issue debts. There is no limit on its ability to redeem its debts in national currency. Hence, for holders of these debts, there is, in effect, a guarantee that these assets are redeemable in terms of domestic money.

Keywords: Financial Institution; Government Expenditure; Government Debt; Government Security; Primary Sector (search for similar items in EconPapers)
Date: 1978
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-15858-4_11

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DOI: 10.1007/978-1-349-15858-4_11

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