The Loans Standard Model of Credit Money

Rohan Baxter
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Rohan Baxter: Monash University, Department of Computer Science, Postal: Clayton 3168 Australia

No 93/183, Working Papers from Monash University, Department of Compter Studies

Abstract: The Loans Standard (LS) model is an example of a credit monetary system. The LS model encapsulates the credit money characteristics which have been identified in the present monetary system, but abstracts away from other aspects such as commodity and fiat money. In the resulting purely credit monetary model, the implications for interest rates, monetary inflation and the structure of monetary institutions are explored. The LS model can be used to help clarify some of the endogenous credit money issues raised by Moore, Wray, Minsky and others.

Keywords: monetary theory; interest rates; credit money (search for similar items in EconPapers)
JEL-codes: L51 (search for similar items in EconPapers)
Date: 1993-05
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Published in the Journal of Post Keynesian Economic

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Persistent link: https://EconPapers.repec.org/RePEc:wop:monaco:0183

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