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The theory of money supply: a case study

Leon Taylor ()

MPRA Paper from University Library of Munich, Germany

Abstract: The theory of money supply is less developed than that of money demand, largely because 19th-century economists believed that money was unimportant and because they viewed the central bank as either an appendage to the economy or as a welfare-maximizing black box. The paper reviews each of these beliefs in turn.

Keywords: money supply; history of economic thought; central bank (search for similar items in EconPapers)
JEL-codes: B19 B22 (search for similar items in EconPapers)
Date: 2014-03-06
New Economics Papers: this item is included in nep-cba, nep-his, nep-hpe and nep-mon
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