Money and the Monetization of Credit

Martin Shubik

No 1343, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: The relationship between money and credit is discussed in terms of network linkage. Fiat money is the only instrument with the universal recognition of its issuer. Near monies such as bank money and money substitutes such as gasoline credit cards can be classified in terms of their network links. This leads to a way of considering the velocity of money.

Keywords: Credit; fiat money; networks; trust; velocity (search for similar items in EconPapers)
JEL-codes: C7 E4 E5 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2001-12
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published in Paul Mizen (ed.), Central Banking, Monetary Theory and Practice. Essays in Honor of Charles Goodhart, Vol. 1, Edward Elgar, 2003, Chapter 10

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Working Paper: Money and the Monetization of Credit (2002)
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