| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13233 |
| DP13233 Credit mechanics – a precursor to the current money supply debate | |
| Frank Decker; Charles A. E. Goodhart | |
| 发表日期 | 2018-10-09 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | This paper assesses the theory of credit mechanics within the context of the current money supply debate. Credit mechanics and related approaches were developed by a group of German monetary economists during the 1920s-1960s. Credit mechanics overcomes a one-sided, bank-centric view of money creation, which is often encountered in monetary theory. We show that the money supply is influenced by the interplay of loan creation and repayment rates; the relative share of credit volume neutral debtor-to-debtor and creditor-to-creditor payments; the availability of loan security; and the behavior of non-banks and non-borrowing bank creditors . With the standard textbook models of money creation now discredited, we argue that a more general approach to money supply theory involving credit mechanics needs to be established. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Credit creation Bank credit Money supply theory Credit mechanics Balances mechanics |
| URL | https://cepr.org/publications/dp13233 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542042 |
| 推荐引用方式 GB/T 7714 | Frank Decker,Charles A. E. Goodhart. DP13233 Credit mechanics – a precursor to the current money supply debate. 2018. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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